Details on Calculation of 401(k) Match

By Staff Report

Here are a few examples to help GCU employees understand how the 401(k) match is calculated. These examples are based on annual compensation of $30,000. 

Amount of Employee’s Contribution in 2012

Amount of GCU Matching Contribution for 2012


Explanation

$900
(3% of $30,000)

$270

 GCU matches 30% of $900

$1800
(6% of $30,000)

$270

 GCU match is only based on the first 3% you contribute

$600
(2% of $30,000)

$180

 GCU matches 30% of $600

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Bible Verse

"Consider carefully what you hear," Jesus continued. "With the measure you use, it will be measured to you — and even more. Whoever has will be given more; whoever does not have, even what he has will be taken from him." Mark 4:24-25



Jesus continued His message, saying, "Yet a time is coming and has now come when the true worshipers will worship the Father in spirit and truth, for they are the kind of worshipers the Father seeks. God is spirit, and His worshipers must worship in spirit and in truth." (John 4:23-24)

To Read More: www.verseoftheday.com/