401k percent match - Does it go by how much my gross pay is, or what percent I contribute to my 401k?
I am contributing 12% to both of them currently to make sure I get the match, but I started thinking about how they come up with the match percentage.
Do they match the percent of my total paycheck, or how much I contribute to the 401k? For example the one that matches 4% at 50%. Is that a set amount for only up to 4% of my total paycheck? If I contribute 4% of my paycheck they will match it at 50%. OR if contribute 50% of my paycheck do they match 4% of what I put in?
Basically the more I put in is the higher match percentage or does the match part not matter as long as I contribute what they offer to match?
I hope that is clear enough, but I'm wondering if I get more match if I contribute more. If that's the case I should do less in the one that is a 4% match and more in the one that is a 10% match?