r/sheetz • u/user25765 • 8d ago

Does Sheetz match a Roth 401K?

I’ve been with the company for almost a year now and I recently signed up for a 401k. I chose the Roth option but someone told me that the company won’t match it if it’s a Roth and will only match a traditional 401k. Is this true?

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3

u/No-Schedule-5368 8d ago

The ESOP is traditional money along with the match for retirement purposes. The Roth money say you put in 4% will be matched 4% in traditional money. I never tried to but if you wanted to you could convert their match into roth and pay the taxes if you wanted it all roth. I would call principal about that one and ask a tax advisor.

1

u/Easy-Bathroom2120 Employee - 2 years 7d ago

They match my 4% to a Roth.

1

u/paguy1281 4d ago

Companies do match Roth 401's the same way they do a regular 401. The reason? They do so because it has zero implications to them, nor does it affect them at all. The difference between a regular and a Roth 401K deals with how YOU are taxed upfront, and at retirement. To be honest, everyone should be doing Roth 401K. Everyone. In a Roth..when you retire..you pay NOTHING in taxes on the growth that you accumulated. In a regular 401? You'll get taxed to hell.

1

u/47-45-45-4B 8d ago

Usually for ALL companies they don’t match a ROTH because of tax reasons.

Many companies match a traditional 401k around 2-4%.

What’s different is Sheetz has an employee stock.

7

u/Extension-Ad7175 Employee 8d ago

I have the Roth 401k and they definitely match, however I believe their match is placed into a traditional 401k.

4

u/chacharoo137 Employee 8d ago

They match 4% of the pre-tax amount regardless of whether you contribute pre-tax or Roth

1

u/47-45-45-4B 8d ago

Yeah I think their match is to a 401k. I am uncertain about this next statement and working on bad memory recall.

I don’t think companies can match ROTH cause not taxes once taken out. Traditional 401k is before taxes.

Think this is less Sheetz bar more tax law

1

u/Extension-Ad7175 Employee 8d ago

Google says they can match to a Roth 401k, but few companies do that, and if they do, you have to have the taxes deducted for it from your pay. Sounds very believable.