Employer 401k Match

[Anonymous]

Would like to hear how other industries are matching employee contributions. I'll start with my spouse and I:

Defense Contractor - 5%
Non-Profit - 10%

[Anonymous]

Law firm. No match. No profit sharing.

[Anonymous]

My company (DoD contractor) did not have a match but instead has profit sharing. Everyone gets 3% of salary.

[Anonymous]

Big tech 50% of EE contribution
Chemical company 100% up to 6% of annual salary

[Anonymous]

Defense contractor 4%
Consulting firm 4%

[Anonymous]

Energy company: 6% match plus 4% company contribution
Defense contractor: 6%

[Anonymous]

100% match on first 4% of contributions;
50% match on next 4% of contributions.

[Anonymous]

In house at a small company, 3% match.

Zero for years and years in biglaw, so it's a nice change.

[Anonymous]

10% 1:1 match - large non-profit that used to have a pension but phased out for newer employees. Hate my job but know basically no other org offers such good retirement benefits nowadays.

[Anonymous]

Nonprofit - 0%

[Anonymous]

This is only one element of compensation, so in a vacuum isn't particularly illuminating.

You could usefully also ask about ESOP details, bonus structures, equity grants, company contributions to deferred comp plans, and the nature of fringe benefits like different types of insurance.

[Anonymous]

Anonymous wrote:This is only one element of compensation, so in a vacuum isn't particularly illuminating.

You could usefully also ask about ESOP details, bonus structures, equity grants, company contributions to deferred comp plans, and the nature of fringe benefits like different types of insurance.

\\

No one is stopping you from creating a new thread.

[Anonymous]

Anonymous wrote:My company (DoD contractor) did not have a match but instead has profit sharing. Everyone gets 3% of salary.

wow! That's not good because you still pay taxes on the profit. Are they ESOP? It is a dying model and a lot of companies are moving away from it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My company (DoD contractor) did not have a match but instead has profit sharing. Everyone gets 3% of salary.

wow! That's not good because you still pay taxes on the profit. Are they ESOP? It is a dying model and a lot of companies are moving away from it.

I’m not crazy about it as it’s not ideal for me. For employees who can’t afford to max, the profit sharing might be good. We max my 401K so a match would have been better for me. The profit sharing amount is added to my 401K once per year. I don’t think I was taxed on it. We are not ESOP.

[Anonymous]

I’m at a nonprofit and we get 100 percent match on 5 percent and then everyone gets 2 percent of their salary in a lump sum at the EOY in their 401k. So it’s basically 7 percent.