Charles has just started a new job. His employer requires that he contribute 2 percent of his salary to a qualified retirement plan and will match any additional contributions up to 3 percent. Charles’s salary isn’t very high ($32,000), so he’s thinking about contributing just the 2 percent minimum. What percentage of his salary does Charles need to contribute to get the maximum contribution from his employer?

Answer rating: 100% (QA)

To get the maximum contribution from his employer ... View the full answer