I'm trying to help someone compare benefits for two different companies. However, we have both interpreted the 401k match statement in the benefits summary differently for one of the companies.
35% company match up to first 6% of employee contribution.
What would the company contribute if the employee were contributing $10,000 per year as written? Like $210? As written, it doesn't even sound useful.
Is this likely a mistake in the benefits summary text or have you actually seen a match setup like this? I'm thinking this is supposed to say "35% company match up to 6% of employee salary" or something similar rather than up to 6% of employee contribution. We've requested clarification on this but haven't heard anything yet.