Old and New 401Ks

We just got my husband's new 401K set up with his new job.  And surprise, surprise!  We found $2,753.34 already in it!  I love finding money!

This is what happened:

He worked for "Company M" many years ago, which was bought out by "Company B", who he now works for, after he left "Company M".  In between these two companies was "Company BC" and "Company O", both of whom laid him off, but that's not really important right now.

Confusing...I know.  Just stick with me here! 

Since he wasn't fully vested in his "Company M" 401K, we lost a large chunk of cash when we rolled it over into an IRA.  But now that he works for "Company B" and it's been less than 7 years since working with "Company M", the amount he forfeited has been reinstated! 

Make sense?

So we set up his "Company B" 401K to have the same 10% contributed every paycheck that we've been comfortable with.  No reason to lower it now even if he is making $1,000 less a year than his last job.  Besides you can make so much more in free savings by contributing to a 401K! 

"Company B" matches 100% of the first 4% of our contribution.  Plus with 401K contributions being a pre-tax deduction, we're really only "losing" half of what we're contributing from our paycheck due to tax savings (known thanks to their handy calculator).  Lots of free money!!!!! 

I still can't understand why people don't contribute at least up to the matched amount each pay period, but that discussion is for another time!

We also requested a rollover check made out to hubby's IRA from his "Company O" 401K.  So that will be closed out and one less 401K to keep track of.

This is what we have to keep track of right now:

• "Company BC" 401K -- We had this closed out and transferred to his IRA, but I guess they felt guilty for laying him off before Christmas and gave him a little extra.  The amount vested is a bit small so we're leaving it in for now.  "Company B" also does business with the same 401K management company so we'll see if there is a way to combine them later.
• "Company B" 401K -- His first contribution should hopefully be coming out of his next paycheck.
• Hubby's IRA -- We use this as a dumping ground for all old 401K accounts.  "Company O" will be the third old 401K we've put funds in there from.
• "Company B" Pension -- This is my pension from when I worked at "Company B" many, many, many years ago.  Yes, it truly is a small world!
• My IRA -- Also a dumping ground for old 401K accounts, but I've only put one in there so far and since I don't currently work, I have a small amount automatically contributed every month.

Overall, it's not too bad!  The total assets in our investment accounts is currently at $75,353.76, which is pretty good considering I'm only in my late 30's and my husband is in his late 40's. 

I'll be going back to work at some point and so contributing once again.  Plus hubby will be contributing his 10% + company match.  At some point in time when we retire we'll be left with the two IRA accounts.

How are you saving for retirement?