Your 401(k): Don’t Miss Out on Free Money
June is a good time to keep a close watch on your contributions to your BMC 401(k) account. Once you reach the annual contribution limit for 401(k) plans—$18,000 (or $24,000 if you are age 50 or older)—your contributions stop. And since you are no longer contributing, BMC stops making matching contributions to your account.
Rather than contributing a higher percentage of your pay early in the year and stopping contributions later in the year, contribute a lower percentage consistently (at least 5% of your pay for each pay period) and get the entire match from BMC.
Useful Links
Watch the Benetube video to learn how to avoid missing out on BMC matching contributions to your 401(k) account.
Use the BMC Retirement Savings Calculator to learn how much you need to contribute throughout the year to receive the full matching contribution from BMC in your 401(k) account.
Read the payroll cutoff deadlines.