Ask Terry Questions Getting the 40l(k) match on S-Cap

Getting the 40l(k) match on S-Cap

By Terry Savage on July 12, 2014 | Wild Card

how much should I contribute to my S-Cap (40l(k) to maximize CNA’s matching contributions?

Terry Says:  Since I spoke at your company last week, you are probably referring to my comment that not contributing enough to get the match (in your case the allowable is 6%, with a dollar-for-dollar match) is like leaving money on the table. But this also applies to every company that gives  a match — though most aren’t as generous as yours.  ASK THE HR department!  They can do the calculation that tells you exactly how much you must contribute to get the full match, based on your salary.  Then, if/when you get a raise (!), be sure to ask them to recalculate and increase your contribution!



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