Reply to I work at Trader Joe's. AMA.

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Reply to "I work at Trader Joe's. AMA."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How long have you worked there and what led you to apply there?[/quote]

A number of years. More than 2, less than 10.

I applied because it seemed like a fun place to work. People seemed to like their jobs, and I noticed that the same people would stay for years, so it must be a chill place to work. And I heard that the employees were treated well and with respect.

But as mentioned, the corporate attitude about employees has changed considerably.

For example: [b]Today, they announced that 2021's 401k contributions would be cut in half. So we worked there a year, gave the company a year of our lives, and they tell us this now.[/b] Today in the employee bulletin. And it was posted under a reminder of their #1 core value, which the company states is "integrity."

As a company, Trader Joe's has changed a lot over the past few years.

As a corporation, it's like any other - profit first, people last.

[/quote]

This is outrageous! Is there an investigative reporter out there for the washington post or wall street journal or buzzfeed who could publicize this story?! All the hard work trader joe's employees did, putting their lives at risk during covid, only to get their 2021 401k contributions retroactively slashed in half?? [/quote]

I’m sorry, I work in this space (corp benefits) and that’s literally something that can’t happen. 
You cannot retroactively change a matching, even if it’s in the plan as discretionary. Now could they have announced a profit sharing calculation would be lower than 2020’s? Absolutely.
But this sounds like this very generous OP with his time, may not clearly understand the benefit (like the majority of people we interact with)[/quote]

it is not a match.  It is provided as a percentage of their pay, regardless of what the person contributes.  [/quote]

Yes, I saw the pic after I posted. It’s a (non-elective) contribution, determined at the end of the year, with no amount guaranteed. I’m sure there’s an expectation that they’ll get “last years” amount or better, but that’s perception not actuality. I’m sorry that OP feels co-workers were stiffed, but there is no expectation of forward applying calculation. Fwiw, the most common er contribution is 50% to 6% so 3% to the employee. 5% is a nice amount for retail. [/quote]

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