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John works for ABC Company, which agrees to make a matching contribution of 50 cents on every dollar, up to 6% of each employee's compensation.
John works for ABC Company, which agrees to make a matching contribution of 50 cents on every dollar, up to 6% of each employee's compensation. A. John's compensation is $31,000 per year. If John contributes $2,000 from his paychecks throughout the year, how much in a match from the company will John receive? B. How much does John have to contribute to receive the maximum 6% contribution from the company? C. How much is John giving up in compensation if he chooses not to defer any compensation?
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