Read the fine print
It’s easy to take your company’s 401(k) plan for granted and neglect to read the fine print. But you could be making a big mistake, says Nick Barringer, a certified financial planner in Charlotte, North Carolina.
He recommends 401(k) participants scan their plan descriptions for specific language that says how your company times its match.
Some companies only match contributions on a per-pay-period basis, meaning that if you hit the IRS contribution limit early in the year, you could potentially miss out on free money, Barringer says.