JoeB131
Diamond Member
- Jul 11, 2011
- 174,036
- 33,910
Just did a little checking.
So these matching contributions are in current year's dollars, not future dollars after the employee leaves.
- Facebook does not have a pension plan. It matches the first 7% of employee 401K contributions.
- Google does not have a pension plan. It matches greater of 100% of a participant's 401K contribution up to $3,000 or 50% of a participant’s contribution up to $8,750
- Amazon does not have a pension plan. It matches up to 4% of a participant's 401K contribution
That's how you stay competitive in an intensely competitive global business environment.
Again, Stormy, tell us how liberal you are again.
Okay, here's the thing. How many Sears employees actually hung around long enough to actually qualify for a pension. If it's like most workplaces, the "lifer" is a rarity. Most of us change jobs every 5 years... which is kind of awesome if you write resumes, but kind of sucks for working folks in general.