Clicky

Retirement

30 Companies With The Highest 401k Employer Match In 2022

The top companies in the world offer generous 401k employer matches in order to attract top talent and to encourage their employees to participate in their 401k plan.

What is 401k employer matching?

An employer match is an additional contribution made by an employer towards an employee's 401k plan. Many employees consider it as free money on top of their regular compensations.

What is the average employer match?

The average employer match is between 4% and 6% of compensation.

What is considered a "good" match?

Anything above 5% of compensation is considered a good employer match. As you'll see below, some companies offer employer matching up to 25% of compensation.

Of course, employees are bound by the IRS contribution limits each year, which is $20,500 in 2022 ($27,000 if over 50 years of age). So the best plans usually result in around $3,000 to $10,000 in annual employer match contributions. Most of the top companies also offer immediate eligibility and vesting.

Companies with the best 401k employer match plans

Making sense of the data below:

Each company below displays four data points: Type, Amount, Eligibility, and Vesting Period. If you're unfamiliar with what they mean, here's a brief explanation of each term.

Type: Employers can either match contributions through dollar-for-dollar (full match) or through a percentage of what employers contribute (partial match). Some companies also offer nonelective contributions where they'll contribute to employees' 401k plans even if employees don't contribute anything themselves.

Amount: The maximum amount that companies will contribute to an employee's 401k through employer matches. While some companies will choose a specific dollar amount, most go with a percentage of compensation.

Eligibility: Some companies require employees to work for a certain period of time before being eligible for employer match contributions.

Vesting period: With immediate vesting, the funds employees receive through employer match contributions are immediately theirs. However, some companies have vesting periods of several years. If an employee leaves the company before the vesting period is over, then they're only entitled to a portion of the funds received.

Here are the companies with the highest 401k employer matches in 2022.

Blizzard

  • Type: Full match
  • Amount: Up to 25% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Blizzard offers one of the highest employer matching contributions for their employees with full dollar-for-dollar matching up to 25% of employees' compensations. All employees are immediately eligible for employer matching and 100% vested.

Dollar General

  • Type: Full match
  • Amount: Up to 25% of compensation
  • Eligibility: Immediately.
  • Vesting period: Immediate.

Dollar General also offers full dollar-for-dollar employer matching contributions up to 25% of employee compensation, with immediate vesting.

Uber

  • Type: Full match
  • Amount: Up to 10% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Uber offers one of the most generous 401k employer matches and has one of the simplest, cleanest structures as well. Employees get full employer matches dollar-for-dollar up to 10% of their compensation.

Visa

  • Type: 200% match
  • Amount: Up to 10% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Visa offers employees an incredible 200% employer match up to 10% of contributions. If employees contribute 5% of their compensation, Visa will contribute 10%.

Bosch USA

  • Type: Partial match
  • Amount: Up to 9% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Bosch USA offers employees a 75% company match on up to 9% of compensation.

USAA

  • Type: 200% match
  • Amount: Up to 4% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

USAA offers one of the highest employer matches at 200% of employee contributions, up to a maximum of 8% of compensation. If employees contribute 4% of their compensation, USAA will contribute 8%.

Samsung

  • Type: Full match and partial match
  • Amount: Up to 4.5% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Samsung offers both full match and partial match employer matching contributions. The first 3% of contributions are matched dollar-for-dollar. The next 3% are 50% partial matched for a total of 4.5% in employer matching each year.

Vimeo

  • Type: Full match
  • Amount: Up to 10% of compensation, max of $10,000 per year.
  • Eligibility: Immediately
  • Vesting period: 2 years

Vimeo requires 2 years of vesting period, but offers a higher-than-most employer match at 10% of employee compensation. The maximum employees can receive per year is $10,000.

Comcast

  • Type: Full match
  • Amount: Up to 6% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Comcast offers a simple dollar-for-dollar employer match up to 6% of compensation with immediate eligibility and vesting.

Biogen

  • Type: 200% match
  • Amount: Up to 6% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Biogen offers employees a 200% employer match up to 6% of contributions. If employees contribute 3% of their compensation, Biogen will contribute 6%.

Amgen

  • Type: Nonelective + Full match
  • Amount: Automatic nonelective contributions equal to 5% of compensation. Plus, full match on 5% of salary.
  • Eligibility: Immediately
  • Vesting period: Immediately

Amgen is one of the few companies that offer nonelective contributions. Even if employees don't contribute to their accounts, Amgen will contribute 5% of employees' salaries into their 401k each year. Additionally, they also offer full match contributions up to 5% of compensation. The total maximum amount in employer match is 10% each year.

Boeing

  • Type: Nonelective + Partial match
  • Amount: Automatic nonelective contributions equal to 3% to 5% of compensation. Plus, partial match of 75% up to 8% of compensation.
  • Eligibility: Immediately
  • Vesting period: Immediately

Boeing also provides nonelective contributions to employees' 401k plans. Even if they don't contribute at all, Boeing will still contribute 3% to 5% of employees' salaries into their 401k. If employees do make contributions to their 401k, Boeing provides a 75% partial match up to 8% of compensation.

Southwest Airlines

  • Type: Full match
  • Amount: Up to 9.3% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Noticing a pattern? Airlines have great 401k programs. Southwest Airlines offers one of the cleanest, simplest structures for their 401k employer match contributions. Employees can receive dollar-for-dollar matching up to 9.3% of their eligible compensation with immediate vesting and eligibility.

BOK Financial

  • Type: Full match or partial match depending on length of employment.
  • Amount: Full match up to 6% of compensation. Ranges between 50% of compensation all the way to 200% of compensation.
  • Eligibility: Immediately
  • Vesting period: Immediately

BOK Financial offers a very unique 401k employer match structure for their employees. All employees receive 401k employer matches of 6% of their compensation. Depending on the length of time employed by the company, the partial match percentage can quadruple. Employees who worked under 4 years at BOK receive a 50% partial match. Employees who worked 4-10 years receive a full dollar for dollar match. Employees who worked 10-14 years receive 150% employer match. And employees who worked over 15 years at BOK receive a 200% match.

Farmers Insurance

  • Type: Nonelective + full match
  • Amount: Automatic nonelective contributions equal to 4% of eligible compensation. Plus, full match up to 6% of compensation.
  • Eligibility: Immediately
  • Vesting period: Immediately

Farmers Insurance provides up to 10% 401k employer matching. They contribute 4% automatically as a base match through nonelective contributions. Additionally, they also offer a full dollar-for-dollar match up to 6% of compensation.

Ultimate Software

  • Type: Partial match of 45%.
  • Amount: Up to the IRS contribution limit.
  • Eligibility: Immediately
  • Vesting period: Immediately

It's rare for a company not to set a cap on the amount of employer 401k contribution matching. Ultimate Software offers employees a 45% partial match up to the yearly contribution limits set by the IRS. While it may sound lucrative, the total amounts to around $10,000 per year. The total matching contributions are on par with other companies ranking in this list.

AT&T

  • Type: Partial match or full match
  • Amount: Up to 6% of compensation
  • Eligibility: After 12 months of service.
  • Vesting period: Immediately

Employees at AT&T who have worked for at least one year can start receiving an 80% partial match to their 401k plans. However, it appears that they offer full match once you get promoted to a managerial position. Managers at AT&T have reported that they receive dollar-for-dollar matches up to 6% of compensation.

3M

  • Type: Nonelective + Full match
  • Amount: Up to 8% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

3M offers employees a nonelective base contribution of 3% of compensation for all employees. In additional, they also offer dollar-for-dollar matching up to 5% of compensation.

Apple

  • Type: Partial match or full match, depending on length of employment
  • Amount: Up to 6% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Apple offers a 50% partial employer match for employees with under 2 years of service. Employees with 2-5 years of service receive 75%, employees with more than 5 years of service receive a full dollar-for-dollar match up to 6% of compensation.

Charles Schwab

  • Type: Full match
  • Amount: Up to 5% of compensation + $250
  • Eligibility: Immediately
  • Vesting period: Immediately

Charles Schwab will first contribute $250 to your 401k when you contribute your first $1 into your plan. Additionally, they also offer full match contributions up to 5% of compensation.

Starbucks

  • Type: Full match
  • Amount: Up to 5% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Starbucks offers a simple employer match structure. They'll match employee contributions dollar-for-dollar up to 5% of compensation.

Microsoft

  • Type: Partial match of 50%.
  • Amount: Up to the IRS contribution limit for employees.
  • Eligibility: Immediately upon starting employment.
  • Vesting period: Immediate.

Microsoft doesn't set a cap on employer matched contributions. Instead, they offer 50% partial matches up to the IRS contribution limit for the year. When employees maximize their contributions, the total amount received from employer matching is usually around the range of $10,000 per year.

Walmart

  • Type: Full match
  • Amount: Up to 6% of compensation
  • Eligibility: After one year of service
  • Vesting period: Immediately after becoming eligible for employer matching.

Walmart requires that employees work at least for one year at the company before becoming eligible for employer matching. After a year, employees can start receiving full match contributions up to 6% of their salary with immediate vesting.

Accenture

  • Type: Full match
  • Amount: Up to 6% of compensation.
  • Eligibility: Immediately
  • Vesting period: 2 years

Accenture has a longer vesting period of 2 years, but immediate eligibility for employees to start receiving employer matches to their 401k. Employees can receive full match contributions up to 6% of their eligible compensation.

Amazon 

  • Type: Partial match of 50%.
  • Amount: Up to 4% of compensation.
  • Eligibility: Immediately upon starting employment.
  • Vesting period: three years, or 3,000 hours of service.

Amazon employees can immediately start receiving 50% matches to their 401k plan up to 4% of their compensation. However, the vesting period lasts 3 years or 3,000 hours of service, whichever comes first.

Google

  • Type: Full match or partial match of 50%.
  • Amount: The greater of 100% of employee contributions up to $3,000, or 50% partial match up to the IRS contribution limit.
  • Eligibility: Immediately upon starting employment.
  • Vesting period: Immediate.

Google employees can either receive 100% of dollar-for-dollar matched contributions up to $3,000, or 50% matches up to the IRS contribution limit. If employees want to maximize their company 401k contributions, they can receive a larger employer match. Google also sets a fair structure for those who wish to invest their money elsewhere by offering dollar-for-dollar matching up to $3,000 per year.

Honeywell International

  • Type: Partial match of 87.5%.
  • Amount: Up to 7% of compensation
  • Eligibility: After 3 years of service
  • Vesting period: Immediately after becoming eligible for employer matching.

While the employer match amount is slightly higher than the average company in this list at 7% of compensation, Honeywell requires employees to work for 3 years before becoming eligible for receiving employer match contributions.

Adobe

  • Type: Full match
  • Amount: Up to 6% of compensation
  • Eligibility: After 15 months of service
  • Vesting period: 2 years

Most large tech companies have immediate eligibility, but Adobe requires at least 15 months of service before employees can start receiving employer match contributions. Vesting period is longer than most as well at 2 years. However, once employees become eligible they can start receiving full dollar-for-dollar matches to their 401k up to 6% of their compensation.

Netflix

  • Type: Full match
  • Amount: Up to 4% of compensation
  • Eligibility: Immediately
  • Vesting period: Immediately

Not the highest employer match, but a very simple structure that employees appreciate. Netflix offers dollar-for-dollar matching up to 4% of compensation with no vesting period and immediate eligibility.

Meta (Facebook)

  • Type: Full match
  • Amount: Up to 50% of the IRS contribution limit for employees.
  • Eligibility: Immediately upon starting employment.
  • Vesting period: Immediate.

Meta provides full employer matching up to 50% of the IRS contribution limit for the year. All employees are eligible for employer matching immediately upon employment and are 100% vested.

Related posts

Get Early Access to the Ocho Solo401k

Ocho is currently in development and will launch at the end of 2022

Sign up below to get early access when we launch!

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.