AboutShirley McAllister, CPP, PHR Expertise I can answer payroll questions, payroll tax questions, 401K questions. No stock option questions please and I have some knowledge of other pensions but am most familiar with the 401K pension.
I can answer U.S.and Canada payroll questions proficiently and have a good general knowledge of UK and South Africa and some knowledge of Australia and New Zealand Payroll procedures.
Please do not ask me homework questions I do not have time to answer them.
Experience 25 years with an international company in the Human Resources, Payroll and Payroll Tax areas.
Organizations SHRM, APA, I.O.M.A.
Publications I.O.M.A. and BNA
Education/Credentials P.H.R., C.P.P., Canadian Payroll Administrator, Successfully passed APA class on UK Payroll Administration.
Boise State University Human Resource Certification
Awards and Honors APA Hotline Citation of Merit for last 8 years.
Question Ms. McAllister,
I am looking for a basic explanation of what "matching" is. If I contribute 2% of my salary to retirement and my employer "matches" this, what does that mean in terms of where my contributed money is going and what my employer is doing with it?
Thank you very much.
Answer Your company must have a government approved retirement plan in order to do this. The money you contribute plus the matching 2% is deposited into your account in the retirement plan.
You should ask hour HR department for a Summary Plan Description of your plan.
