Retirement Targets

JP4CY

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Why I enjoy my employer going to 25% contribution. Previous companies would do 6% match 401ks, but getting straight 25% of salary contribution into retirement is awesome.
Helluva way to retain employees.
 
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motorcy90

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Aug 12, 2018
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Helluva way to retain employees.
Yeah a few guys getting ready to retire in the next few years with a couple million saved up over the years here. I figure adding just 6% into the 401k they offer alongside should be golden in about 30 years.
 

cstrunk

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Mar 21, 2006
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Why I enjoy my employer going to 25% contribution. Previous companies would do 6% match 401ks, but getting straight 25% of salary contribution into retirement is awesome.

That's... insane. How can a company afford that? Do they reduce other benefits? Or did they find out how to print money?
 

CascadeClone

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Oct 24, 2009
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That's... insane. How can a company afford that? Do they reduce other benefits? Or did they find out how to print money?
Its cheaper to pay in 401k match than salary. No FICA or tax withholding. So you give all the cash out, instead of like 60% after tax.

We do a big (6 figure) profit share bonus every year, split amongst our 20ish employees. But nowhere near 25%!
 

motorcy90

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That's... insane. How can a company afford that? Do they reduce other benefits? Or did they find out how to print money?
We have full health/dental/vision insurance with employer paid premiums. Basically only pay Co-pays out of pocket.
 

Bestaluckcy

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When I was working my employers felt I robbed them when they gave 5%. Still was able to get old enough to retire. :)
 
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JP4CY

A loathsome, offensive brute. You can't look away.
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Dec 19, 2008
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We have full health/dental/vision insurance with employer paid premiums. Basically only pay Co-pays out of pocket.
Just want to add that my employer is at a 50% contribution level.. which I’ve never heard of before. Crazy that companies can offer that..
Do you both feel $ wise that you're underpaid?
 

cycloneG

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Off the grid
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