Latacora has a 100% no-limit contribution match and non-shitty funds (access to all of Fidelity's index funds), loan provisions, and all conversions unlocked for any reason, available on day 1, with all contributions immediately and fully vested. We also eat every fee we're allowed to eat.
Niiiice. It's hard to imagine a better 401k plan than what y'all have. Enjoy it. And I assume, based on everything else, that you have a reasonable low-fee provider like Vanguard or Fidelity with good low-fee fund options.
Fidelity, and every index fund Fidelity has to offer, yep. The QDIA is an automatically selected target date fund-of-index-funds, but I'm manually allocated.
I’m curious as well, as reference for another tech company, say amazon, it’s up to a 3% match but only vests after three years. Iotw tech is all over the map on 401k afaics.
The importance of a "no limit" match is that it disconnects your benefit from your salary. Most matching offers are limited by your salary so a lower paid worker gets less benefit than a higher paid worker.
Some of the very largest tech companies offer these kinds of plans. Google and Microsoft do. Facebook has a 50% match up to 7% of salary, so if you're making over $139k/yr (which every technical employee is) then it's functionally the same. Apple is 50% match up to 6% of salary, which equalizes at $162k/yr.
Add all that together, plus all the smaller companies that also have great plans (like Netflix) and we're talking over a million employees in tech that all get the effective benefit of the company contributing 50% of the IRS personal contribution limit. I would call that common.
