Author Topic: What is your Employer Contribution?  (Read 21444 times)

The Dutchman

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What is your Employer Contribution?
« on: January 07, 2015, 07:22:14 AM »
I think this would be helpful for people to know when searching jobs.  There is some info out there but it is not that great.  What does your employer contribute?

Previously I was getting 50% on every dollar I invest up to 4 percent of my pay.  So essentially a match of 2%.

I now work for one of the Big 3 US auto makers.  I now have a dollar for dollar match up to 3.5%; along with a stock purchasing program (to purchase stock of the company I work with) where they will match 90% on the dollar up to 5% of my pay.  So if you max each of those out it is essentially an employer match of 8%. 

PS - The company stock purchase program is interesting.  I can pull out the money I invest within a month; the company match needs to sit there for a couple of years.
« Last Edit: January 07, 2015, 07:25:06 AM by The Dutchman »

JLee

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Re: What is your Employer Contribution?
« Reply #1 on: January 07, 2015, 07:26:19 AM »
50% match up to 6% (so 3% of salary) and a 33% stock match after 12 months (i.e. the stock I buy in January 2015 through payroll deductions will be matched by 33% in January 2016).

wtjbatman

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Re: What is your Employer Contribution?
« Reply #2 on: January 07, 2015, 07:28:02 AM »
100% match up to 5%

401k, Publicly traded company.
« Last Edit: January 07, 2015, 07:31:05 AM by wtjbatman »

NinetyFour

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Re: What is your Employer Contribution?
« Reply #3 on: January 07, 2015, 07:28:49 AM »
I contribute 8% and my employer contributes 11.4% to my 401a account.  Both of these percentages are set my my employer.

I also have a 403b account into which I can stash $24,000.  No match from employer on that.

Siobhan

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Re: What is your Employer Contribution?
« Reply #4 on: January 07, 2015, 07:31:46 AM »
Zilch, for both me and my husband...it sucks monkey balls....he gets a pension, I get a share package that is currently worthless.

gecko10x

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Re: What is your Employer Contribution?
« Reply #5 on: January 07, 2015, 07:45:14 AM »
100% match to 4% in 401k at Fortune 500 company.

Phil_Moore

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Re: What is your Employer Contribution?
« Reply #6 on: January 07, 2015, 07:48:46 AM »
Mine is non-contrib, so my employer puts in 10% of salary regardless of what I put in.  This is the first scheme I've been on that isn't final-salary, so it seems a bit weak to me, but I'm assured it's competitive.
« Last Edit: January 07, 2015, 08:24:06 AM by fungalist »

bo_knows

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Re: What is your Employer Contribution?
« Reply #7 on: January 07, 2015, 07:48:57 AM »
Mine amounts to 6% of salary.  50% match on contributions up to 6%, plus an automatic 3% (for my service level).

FLBiker

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Re: What is your Employer Contribution?
« Reply #8 on: January 07, 2015, 07:54:11 AM »
I work at a US public university.  They put in 5% and I put in a mandatory 3%.  They used to do the whole 8%, but that changed a few years ago when we got a Republican governor.

vogon poetry

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Re: What is your Employer Contribution?
« Reply #9 on: January 07, 2015, 08:09:06 AM »
100% match of the first 8%
I'm in Academia, I think this is fairly standard for Academics, though my first job out of grad school was 100% of the first 4% so this place is definitely a step up...I've heard tales of places where they automatically contribute 10% of your salary even without any match, but I've never seen it for myself. 

tmac

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Re: What is your Employer Contribution?
« Reply #10 on: January 07, 2015, 08:14:49 AM »
I'm a small business owner. I'm in the middle of organizing a SIMPLE plan for us and our 3 employees, with a 3% match.

PathtoFIRE

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Re: What is your Employer Contribution?
« Reply #11 on: January 07, 2015, 08:17:26 AM »
100% match to 4% in 401k at Fortune 500 company.

Ditto

Mrs. PoP

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Re: What is your Employer Contribution?
« Reply #12 on: January 07, 2015, 08:19:54 AM »
25% match on whatever I put in, completely independent of salary.

antarestar

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Re: What is your Employer Contribution?
« Reply #13 on: January 07, 2015, 08:24:23 AM »
Nothing.

It used to be 100% up to 5% and then half up to 8% or something but now nothing. It was taken away 2 years ago as a cost cutting measure and they claim we will get our match back but I don't believe it.

Breck

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Re: What is your Employer Contribution?
« Reply #14 on: January 07, 2015, 08:24:59 AM »

Melf

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Re: What is your Employer Contribution?
« Reply #15 on: January 07, 2015, 08:27:25 AM »
I think I'm at 50% match up to 7% or equivalent to 3.5% total.  This is at a major telecom company.

epipenguin

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Re: What is your Employer Contribution?
« Reply #16 on: January 07, 2015, 08:30:33 AM »
A discretionary profit-sharing contribution of up to 3%, with lots of fluffy language meaning they can easily get out of paying if the company does not do well. Or if they feel like it, I guess, although admittedly they only cancelled it in 2008 and possibly 2009 as far as I remember. They used to have a small match as well which was cancelled at the same time and will not be reinstated.

They pay out twice per year, although if you're part time like me, you only get paid once a year as you have to have worked enough hours to qualify and I usually haven't qualified at the time of the first payout. Also, the second payout is for work up to 12/31 but often doesn't get paid out until the following July (it used to be January, but the last few years they've delayed). I asked what would happen if I left between 12/31 and the payout date, and got some vague comments that they would pay it but I don't necessarily believe them.

rujancified

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Re: What is your Employer Contribution?
« Reply #17 on: January 07, 2015, 08:36:24 AM »
100% up to 6%. Used to do a pension (funded by the company) but that froze several years ago. Still a pretty good deal. Fortune 25. Finserv.

makstache

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Re: What is your Employer Contribution?
« Reply #18 on: January 07, 2015, 08:41:54 AM »
100% match up to 6%. I work for a private secondary school.

Before 2010, it was 7.5% then dropped to 5%, and it has been increasing by .5% every year or so since then. They say that it should get back to 7.5% in a few years as long as our enrollment stays steady.

aneel

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Re: What is your Employer Contribution?
« Reply #19 on: January 07, 2015, 08:45:35 AM »
We get 3/4 match of our first 6% amounting to 4.5%.  We also have an ESOP, but its only a 5% discount, so not really worth the extra risk.

AH013

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Re: What is your Employer Contribution?
« Reply #20 on: January 07, 2015, 08:47:06 AM »
100% match for first 4% match.  No annual true-up if you hit the IRS max too early in the year.

Norioch

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Re: What is your Employer Contribution?
« Reply #21 on: January 07, 2015, 08:53:27 AM »
50% match up to the federal pre-tax limit (so $9000 this year)

shotgunwilly

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Re: What is your Employer Contribution?
« Reply #22 on: January 07, 2015, 08:54:15 AM »
100% (dollar for dollar) match up to 6%.  Fully vested after first year.

CCCA

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Re: What is your Employer Contribution?
« Reply #23 on: January 07, 2015, 08:59:56 AM »
No match for my job at a state university. But I can contribute to a 403b and 457b. I do get a pension but it's only substantial if I don't retire too early so I'm not likely to see too much of that.
Wife gets a 100% match up to 10% at her job.

DeepEllumStache

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Re: What is your Employer Contribution?
« Reply #24 on: January 07, 2015, 09:00:44 AM »
Large Fortune 500 company.  One of the major Telecoms.

80% match on the first 6% contributed to the 401K (comes out to 4.8%), vested in 3 years.  I also have a pension but new hires no longer have a 100% match on the first 6% instead of a pension.

There's also a stock/deferred compensation benefit with 3 year vesting for those at the level of my boss or higher.

Numbers Man

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Re: What is your Employer Contribution?
« Reply #25 on: January 07, 2015, 09:01:17 AM »
4 to 6 percent depending on profit sharing contributions.

kudy

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Re: What is your Employer Contribution?
« Reply #26 on: January 07, 2015, 09:07:10 AM »
Local small business, 100% match up to 4% of salary.

woodnut

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Re: What is your Employer Contribution?
« Reply #27 on: January 07, 2015, 09:08:56 AM »
The 401k is 50% match up to 5%, so essentially 2.5%.  Four year vesting period for company match, 25% after 1yr, 50% after 2yrs, etc.  I've had better 401k plans.  For the ESPP we get a 10% discount with up to a 2yr lookback and can contribute up to 10% of salary.  The stock has been skyrocketing since I've been here so this has been an awesome benefit.  It's a large high-tech company.

boarder42

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Re: What is your Employer Contribution?
« Reply #28 on: January 07, 2015, 09:14:57 AM »
401k - 50% match up to 6.5% - so 3.25%
ESOP - anywhere from 8-12% so far since i've been here

Total contribution 11-15%

lhamo

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Re: What is your Employer Contribution?
« Reply #29 on: January 07, 2015, 09:15:17 AM »
I work for a large non-profit.  Our employer contribution starts after 1 year of employment and is initially 7%.  Goes up to 10% after five years of employment (where I am now).  I think the next bump is to 12% after 10 years -- not sure I will make it that far.  Nice perk, though, as it is a straight contribution and not a match (i.e. you get it no matter what you put in).

DH works for a small non-profit and only gets a 2% match.  Better than nothing, I guess.

dee96789

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Re: What is your Employer Contribution?
« Reply #30 on: January 07, 2015, 09:19:46 AM »
1% automatic + 100% on the first 3% of your contribution, and 50% on the next 2%, so basically 100% of the first 5%. Fully vested on their contributions after 3 yrs of service.  Immediate vesting on your contributions

Also a partial pension...0.8% from me, 13.2% by them, equals 1% payout per year of service, unless you wait to 62 to retire, then its 1.1% per year of service.

Newer employees have to contribute more to the pension...
« Last Edit: January 07, 2015, 09:44:49 AM by dee96789 »

gopackgo2

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Re: What is your Employer Contribution?
« Reply #31 on: January 07, 2015, 09:32:27 AM »
10% of my gross regardless of my contribution.

minimustache1985

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Re: What is your Employer Contribution?
« Reply #32 on: January 07, 2015, 09:43:39 AM »
4% match when you put in 5%, a 100% match on the first 3%, and 50% on the next 2%.  They have done a discretionary contribution on top of that in the past but not last year and I don't expect they will this year either; the company was formerly a subsidiary of an oil company and they've been scaling down to a more "typical" match for the past few years.

My previous job was in the oil industry, 7% match dollar for dollar, plus a pension that equated to another 5-6%.

Both companies I fully vested after 3 years.

norabird

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Re: What is your Employer Contribution?
« Reply #33 on: January 07, 2015, 10:03:01 AM »
Automatic 6%.

COlady

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Re: What is your Employer Contribution?
« Reply #34 on: January 07, 2015, 10:04:44 AM »
35% of whatever I put in....which is obviously the max of $17,500, who can turn down 35%????  Some of the people I work with are like, well I can't afford to put in the max but yet they drive a brand new SUV and live in a McMansion.  Insane I tell you.  It goes up to 55% after 10 years of service, I'm starting to understand why everyone here is a lifer.  My company definitely has it figured out as far as employee retention goes...

TheMoneyBadger

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Re: What is your Employer Contribution?
« Reply #35 on: January 07, 2015, 10:05:52 AM »
50% match on the first 8% (effectively a 4% match) plus an additional 7% match at the end of the year.  If I put in 8%, my employer ends up putting in 11%.

Runge

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Re: What is your Employer Contribution?
« Reply #36 on: January 07, 2015, 10:12:34 AM »
Small company, and they only have the Simple IRA plan, so it's dollar-for-dollar up to 3%.

4alpacas

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Re: What is your Employer Contribution?
« Reply #37 on: January 07, 2015, 10:21:08 AM »
10%

mm1970

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Re: What is your Employer Contribution?
« Reply #38 on: January 07, 2015, 10:22:37 AM »
nothing.  Zip. Zero, Nada.

boarder42

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Re: What is your Employer Contribution?
« Reply #39 on: January 07, 2015, 10:27:16 AM »
1% automatic + 100% on the first 3% of your contribution, and 50% on the next 2%, so basically 100% of the first 5%. Fully vested on their contributions after 3 yrs of service.  Immediate vesting on your contributions

Also a partial pension...0.8% from me, 13.2% by them, equals 1% payout per year of service, unless you wait to 62 to retire, then its 1.1% per year of service.

Newer employees have to contribute more to the pension...

so if you work there 10 years they pay you 10% of your departing salary forever?

Cromacster

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Re: What is your Employer Contribution?
« Reply #40 on: January 07, 2015, 10:44:50 AM »
5% match if I contribute 6% of my salary.  Right now I also get 3% into a pension, but after 2015 that will be switching to an additional 3% into a 401k, so it will be 8% total.

Lanthiriel

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Re: What is your Employer Contribution?
« Reply #41 on: January 07, 2015, 10:46:47 AM »
I get an automatic 2% and then a 20% match on whatever I contribute. So since I'm currently contributing 15%, they are contributing an extra 3% for a total of 5%. Unfortunately, I'm stuck with a nasty vesting structure, so I get 20% of my employer's contributions at 2 years, 40% at 3 years, on up until I'm fully vested after 6 years with the company.

irishbear99

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Re: What is your Employer Contribution?
« Reply #42 on: January 07, 2015, 10:55:20 AM »
1 to 1 match up to 5% (I contribute the max), plus a pension where I contribute .08% and will receive 1% of my average high-3 salary (or 1.1% if I wait to claim until age 62).

RelaxedGal

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Re: What is your Employer Contribution?
« Reply #43 on: January 07, 2015, 11:08:20 AM »
Life insurance company with 300-ish direct employees. 401(k) with Vanguard.
  • After one year of service my employer will match 50 cents on the dollar for the first 4% of my salary I contribute to the 401k.
  • After one year of service my employer will contribute 5% of my salary, whether or not I put anything in.
  • Contributions vest immediately.

Datastache

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Re: What is your Employer Contribution?
« Reply #44 on: January 07, 2015, 11:15:33 AM »
75% match on up to 4% (so 3% match total).

eyePod

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Re: What is your Employer Contribution?
« Reply #45 on: January 07, 2015, 11:22:11 AM »
Mine's 100% match up to 6%.

Previous company was 75% match up to 6% (4.5%).

When I switched companies that was like a free 1.5% raise!

Previous company, everything vested immediately. Here it's 50% after 2 years and 100% after 3 years.

neil

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Re: What is your Employer Contribution?
« Reply #46 on: January 07, 2015, 11:36:28 AM »
Our company does it through a profit-sharing formula that doesn't require a match.  This hypothetically means it might be 0, but it's been 5-6% every year I've been here.  I don't mind it because our industry goes through layoffs and flat salary cuts and ours seems to do a better job of cost control to avoid that.

A bigger question is what they let you do with it.  For years, they forced contributions to go into a mixed fund with fees just under 1% and a CAGR of 5.5% since 2004 when my 401K has been around 9%.  I don't feel that way anymore but most of the last ten years I felt US indexes were undervalued and my portfolio allocation reflected that.  This year they finally opened us up to a few options (mostly bad) and I moved everything into VIIIX.  It peeved me because our regular 401K has decent options.

http://media.bloomberg.com/bb/avfile/rwtKPOh9WTmY


J'onn J'onzz

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Re: What is your Employer Contribution?
« Reply #47 on: January 07, 2015, 11:57:23 AM »
3% of my salary as a safe harbor contribution then 50% match on the first 6%.

CommonCents

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Re: What is your Employer Contribution?
« Reply #48 on: January 07, 2015, 12:00:49 PM »
nothing.  Zip. Zero, Nada.

Yep, and don't forget zilch.

erae

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Re: What is your Employer Contribution?
« Reply #49 on: January 07, 2015, 12:08:54 PM »
100% match up to 5% of my gross salary.  403b for a large, national non-profit.