Washington 12/05/2016 @ 12:08PM 51,084 views. How Defense Secretary James 'Mad Dog' Mattis Will Remake The Pentagon. President-elect Donald J. Trumpâs disclosure that he will seek to name retired Marine Corps General James N. Mattis as the next Secretary of Defense portends big changes at the Pentagon.
This match is typically a 100% match up to 3% and then a 50% match from 3% to 5%. With this match, an employer would match dollar-for-dollar up to 3% of the employee's salary the 50 cents on the dollar for anything above 3% and below 5% of their total salary.
Most employers do it on a payroll basis, contributing a little bit with each paycheck, âmatchingâ the amount the employee saves out of each paycheck. A common formula is to match 50% of employee contributions up to the first 6% of salary. Look who that can hurt. If youâre saving just 3% of salary, youâre missing out on half of the potential match. Many employers automatically start employees at a 3% savings rate if they donât opt out or elect otherwise.