Author Topic: What is your Employer Contribution?  (Read 21016 times)

WGH

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Re: What is your Employer Contribution?
« Reply #50 on: January 07, 2015, 12:09:39 PM »
Two jobs:

Job # 1 pre tax Mandatory 3% Company puts in 15%, optional post tax employee 4%, employer 2%

In essence I put in 7% of my gross and employer puts in 17% very very sweet deal


Job # 2 Whatever I put in they'll match 20% of that amount. pretty crappy deal.

Scandium

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Re: What is your Employer Contribution?
« Reply #51 on: January 07, 2015, 12:21:53 PM »
A flat 10% of salary, no matter what I do. Nice deal. Only bad thing is that it's one deposit in September the year after. Medium/large engineering firm

clarkm04

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Re: What is your Employer Contribution?
« Reply #52 on: January 07, 2015, 12:39:15 PM »
If I put in 3%, they put in 6%.  They have a steep cliff, if you put anything less than 3%, you get nothing.

100% vested immediately.

Up until 3 years ago, they put in 6% regardless of your contribution.  Pretty sweet deal at the time.

Shade00

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Re: What is your Employer Contribution?
« Reply #53 on: January 07, 2015, 12:41:58 PM »
3% safe harbor contribution (no match necessary) and in February they are reinstating an additional 3% match. When I make partner I'll also get a big chunk of profit-sharing.

rubybeth

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Re: What is your Employer Contribution?
« Reply #54 on: January 07, 2015, 12:43:21 PM »
Employer offers no match to retirement accounts, but does offer Minnesota Public Employees Retirement Association (PERA) pension. I have to put in about 6% and the employer puts in 7.25%. My contributions are refundable, with interest, if I leave the employer, and benefits are based on years of service and contributions.

lexie2000

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Re: What is your Employer Contribution?
« Reply #55 on: January 07, 2015, 12:57:33 PM »
The Fortune 500 company that DH retired from offers 50% on the first 8% contributed, so essentially a 4% match. 

In 2006 and after new hires no longer got a defined benefit package.  This year will be the last year that anyone will get credit for years of service toward a pension.  They are saying that to compensate they are going to increase the match on the 401k plan, but nothing definitive yet on what that will be.




I'm a red panda

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Re: What is your Employer Contribution?
« Reply #56 on: January 07, 2015, 01:33:34 PM »
13% contribution, requires a 2% employee contribution
No match on optional contributions.

bearkat

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Re: What is your Employer Contribution?
« Reply #57 on: January 07, 2015, 01:40:32 PM »
I get 8% employer contribution if I put in at least 2% as an employee (large Fortune 100 company).

My wife gets no match at all until she has 2 years of service and after that I think it's 4%-ish in a 403b (large non-profit).

netskyblue

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Re: What is your Employer Contribution?
« Reply #58 on: January 07, 2015, 01:52:49 PM »
2% is the highest my employer goes (not sure what the specifics are, I put more than they require to get the match).  That is to say, a whole $790 a year.

rmendpara

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Re: What is your Employer Contribution?
« Reply #59 on: January 07, 2015, 11:14:29 PM »
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.

Very interesting. I also work for another Big 3 OEM. I work at the corporate level, not sure if that makes a difference, but we get a 4% employer contribution (simple contribution, not a match) plus a 4% match for first 4% of employee contribution... so 8% total as long as I contribute 4% myself.

I have to say, the stock purchase idea sucks in general. I don't want to buy a ton of shares in the company I work for, unless I get a significant discount. Too many eggs in the same basket.

PowerMustache

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Re: What is your Employer Contribution?
« Reply #60 on: January 07, 2015, 11:51:09 PM »
100% match up to 3%, 50% match the next 2% (so 4% from employer so far), then 4% regardless of what I do. Total of 8%.

Nudelkopf

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Re: What is your Employer Contribution?
« Reply #61 on: January 07, 2015, 11:59:15 PM »
I contribute 5% if my wage, and my employer contributes 12.75% of my wage.

I'm in Australia, so can't touch it til I'm a gazillion years old.

alsoknownasDean

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Re: What is your Employer Contribution?
« Reply #62 on: January 08, 2015, 12:02:56 AM »
Is this pension funds?

My superannuation contributions are made at 9.5% (on top of my salary), the legislated minimum rate in this country.

No employer match, but I can make additional contributions from my pre-tax salary (saves me on tax too). Problem with doing that is I can't touch it until I'm 60.

deborah

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Re: What is your Employer Contribution?
« Reply #63 on: January 08, 2015, 12:10:38 AM »
Is this pension funds?

My superannuation contributions are made at 9.5% (on top of my salary), the legislated minimum rate in this country.

No employer match, but I can make additional contributions from my pre-tax salary (saves me on tax too). Problem with doing that is I can't touch it until I'm 60.
Interesting way of looking at it - I have always looked at as the 9.5% contribution being an employer contribution (and thus similar to the US employer match), and the pre-tax and post-tax contributions were what we put in. However, that is just my way of looking at it, and the legislation was for the 9.5% to be instead of pay rises, so I can see where you are coming from.

alsoknownasDean

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Re: What is your Employer Contribution?
« Reply #64 on: January 08, 2015, 12:24:40 AM »
Is this pension funds?

My superannuation contributions are made at 9.5% (on top of my salary), the legislated minimum rate in this country.

No employer match, but I can make additional contributions from my pre-tax salary (saves me on tax too). Problem with doing that is I can't touch it until I'm 60.
Interesting way of looking at it - I have always looked at as the 9.5% contribution being an employer contribution (and thus similar to the US employer match), and the pre-tax and post-tax contributions were what we put in. However, that is just my way of looking at it, and the legislation was for the 9.5% to be instead of pay rises, so I can see where you are coming from.

Oh, I viewed employer match as 'you contribute $x, the company contributes $x (or $x * y%)'. Whereas of course we don't need to contribute anything to receive the 9.5% superannuation guarantee, what we contribute is in addition to that.

Which legislation, the original superannuation one, or are you referring to the 'postponed' increase to 12%?

deborah

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Re: What is your Employer Contribution?
« Reply #65 on: January 08, 2015, 12:27:42 AM »
The original - which was 3% not 9.5% or 12 % or anything else that it has been.

Nudelkopf

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Re: What is your Employer Contribution?
« Reply #66 on: January 08, 2015, 02:07:31 AM »


Interesting way of looking at it - I have always looked at as the 9.5% contribution being an employer contribution (and thus similar to the US employer match), and the pre-tax and post-tax contributions were what we put in. However, that is just my way of looking at it, and the legislation was for the 9.5% to be instead of pay rises, so I can see where you are coming from.

Oh, I viewed employer match as 'you contribute $x, the company contributes $x (or $x * y%)'. Whereas of course we don't need to contribute anything to receive the 9.5% superannuation guarantee, what we contribute is in addition to that.
Some employers in Australia contribute more to your super if you also contribute (either pre- or post-tax).

E.g. If you contribute between 3%-5% (3%=<x=<5%), then the employer will contribute (x+7.5)%


alsoknownasDean

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Re: What is your Employer Contribution?
« Reply #67 on: January 08, 2015, 02:53:51 AM »


Interesting way of looking at it - I have always looked at as the 9.5% contribution being an employer contribution (and thus similar to the US employer match), and the pre-tax and post-tax contributions were what we put in. However, that is just my way of looking at it, and the legislation was for the 9.5% to be instead of pay rises, so I can see where you are coming from.

Oh, I viewed employer match as 'you contribute $x, the company contributes $x (or $x * y%)'. Whereas of course we don't need to contribute anything to receive the 9.5% superannuation guarantee, what we contribute is in addition to that.
Some employers in Australia contribute more to your super if you also contribute (either pre- or post-tax).

E.g. If you contribute between 3%-5% (3%=<x=<5%), then the employer will contribute (x+7.5)%

Nice! Is that to specific superannuation funds (ie: in house ones), or any fund?

I don't get any of that though, the only employer superannuation I get is the 9.5%. Still alright though, it'll be a nice bonus after I've been FIRE for a decade :)

dee96789

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Re: What is your Employer Contribution?
« Reply #68 on: January 08, 2015, 09:51:28 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?

Generally yup... you have to retire at your minimum retirement age...or wait till your minimum retirement age (MRA) to collect, most people 57.  And its the average of your highest 3 yr salary.  There are some other quirks, if you haven't worked a minimum of 20 years, at MRA you get penalized some... If you want to read more... opm.gov

MsPeacock

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Re: What is your Employer Contribution?
« Reply #69 on: January 08, 2015, 10:00:02 AM »
100% match up to 5%.

hdizz

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Re: What is your Employer Contribution?
« Reply #70 on: January 08, 2015, 10:02:25 AM »
50% match up to $1500 per year.  Kind of a progressive policy in a way I suppose, as the lower salaried folks can get a much larger proportion of their salary matched.

deedeezee

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Re: What is your Employer Contribution?
« Reply #71 on: January 08, 2015, 10:08:57 AM »
100% match up to 5% of salary.  Private firm of a few hundred employees.

mochila

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Re: What is your Employer Contribution?
« Reply #72 on: January 08, 2015, 10:18:15 AM »
100% up to $20, but people hired when I was also get 10.4% of our base salary whether or not we contribute at our large public university.

MontanaMoneyMustache

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Re: What is your Employer Contribution?
« Reply #73 on: January 08, 2015, 10:30:16 AM »
Here is what I get currently:

401k: Dollar for dollar match up to 6% of my annual salary

Stock Purchase Plan: 5-15% of annual salary, no company match, but 15% discounted stock.

Long Term Stock Program: No employee contribution, ~10% of my salary into a three year vesting stock purchase plan, no discount.

Pension: It's there but not sure what it is/how long it will last

Nudelkopf

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Re: What is your Employer Contribution?
« Reply #74 on: January 08, 2015, 05:37:50 PM »




Interesting way of looking at it - I have always looked at as the 9.5% contribution being an employer contribution (and thus similar to the US employer match), and the pre-tax and post-tax contributions were what we put in. However, that is just my way of looking at it, and the legislation was for the 9.5% to be instead of pay rises, so I can see where you are coming from.

Oh, I viewed employer match as 'you contribute $x, the company contributes $x (or $x * y%)'. Whereas of course we don't need to contribute anything to receive the 9.5% superannuation guarantee, what we contribute is in addition to that.
Some employers in Australia contribute more to your super if you also contribute (either pre- or post-tax).

E.g. If you contribute between 3%-5% (3%=<x=<5%), then the employer will contribute (x+7.5)%

Nice! Is that to specific superannuation funds (ie: in house ones), or any fund?
I think it's specific to the employer (Qld govt)

iwasjustwondering

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Re: What is your Employer Contribution?
« Reply #75 on: January 08, 2015, 05:58:27 PM »
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.

10% of salary

xenon5

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Re: What is your Employer Contribution?
« Reply #76 on: January 10, 2015, 08:38:25 PM »
Mine is 3% of 100% of salary which seems pretty stingy after reading through this thread!  How does vesting work for all of you and how good are the funds, especially where it's 6%+?  Mine is immediate and we have access to Vanguard institutional funds for domestic stocks, so it's not all bad.
« Last Edit: January 10, 2015, 08:41:31 PM by xenon5 »

Teddy25

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Re: What is your Employer Contribution?
« Reply #77 on: January 11, 2015, 02:18:41 AM »
Fortune 500 private ( non profit)

401k match - 100% match first 6%, 5 year step (vest 20% a year)
Plus "Pension" - 5% of gross income, return at 10year U.S. treasury rate, 3 year cliff(100% vest @ end 3rd year)
Deposited with every paycheck
« Last Edit: January 11, 2015, 02:44:41 AM by Teddy25 »

Frugalicious

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Re: What is your Employer Contribution?
« Reply #78 on: January 11, 2015, 04:33:19 AM »
8% as long as I contribute 2%.  Immediate vesting.  We have Vanguard target date funds plus probably 15 others. 

Davin

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Re: What is your Employer Contribution?
« Reply #79 on: January 11, 2015, 10:28:42 AM »
4% + 100% match of up to an additional 4%, immediate vesting. This is the first job I've had that offers a 401k and I feel very fortunate to have this. I don't know anyone else in this area who gets this kind of deal, except my coworkers.

Capsu78

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Re: What is your Employer Contribution?
« Reply #80 on: January 11, 2015, 12:14:17 PM »
Match 100% up to 5%, contribute 5% and they match you at 6%- Large multinational information services company.

mm1970

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Re: What is your Employer Contribution?
« Reply #81 on: January 11, 2015, 01:14:59 PM »
nothing.  Zip. Zero, Nada.

Yep, and don't forget zilch.
You're right!

Spouse's company matches 10-20% of his salary though.

Mr. Frugalwoods

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Re: What is your Employer Contribution?
« Reply #82 on: January 11, 2015, 01:49:45 PM »
My company does 2% employer contribution (regardless of employee contributions) + 6% dollar for dollar match. 

3 year even vesting schedule.

Pretty sweet deal, and a major reason why our retention is higher than the industry average.  Which in turn is a major reason why our productivity per employee blows our competitors out of the water.  I think it's money well spent.