Reply to What is in lauded in HHI?

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Reply to "What is in lauded in HHI?"

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[quote=Anonymous][quote=Anonymous]I meant what is INCLUDED in HHI?[/quote]
I think most people consider their HHI the combined total of their salaries, without factoring in health and pension benefits.

As far as pensions, unless you are in a public position (federal, state, or county job), you will probably be responsible for your own retirement. In lieu of the traditional defined benefit pension, many companies have 401ks (or 493bs, for non-profits) to which they will match a portion of your contributions. A common example, is a 1 for 1 match of 3% or 6%.

Not to complicate the picture, but often non-profits pay lower salaries but compensate with higher benefits. For example, I was earning $95k as a manager for a corporation, with a 3% match, and I moved to a new job at a non-profit with a salary of $92k and a 10% contribution (no contribution at all was required of me). So the second job was actually better overall compensation, although my HHI dropped by a few thousand.

Hope this was not information overload! :)[/quote]

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