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UPS Partners
401k Match...when is it coming back?
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<blockquote data-quote="randomUPSISer" data-source="post: 726179" data-attributes="member: 24399"><p>Its not a perk when every other company gives it. It should NEVER be thought of as a "perk". A perk is having flex time, getting a company car, being able to get discounts from other companies, etc. </p><p></p><p>A 401k match is part of <strong> compensation </strong>. </p><p></p><p>Hoax, maybe I've become cynical but from what I can tell we did get a significant pay reduction. 401k cut (-3%), low MIP (-3/4 months salary), large increase in healthcare cost (sorry... health care is increasing but no one else I knows cost more than doubled then! Depending on what your salary is, this is significant or irrelevant), no COLA in 2009, (-3%?) and a token COLA in 2010. (-2%?)</p><p></p><p>if I add it all up Im down at least 10% from what I was a couple years ago. Upper managements plan to give us wage reductions without us noticing has clearly worked on you <img src="/community/styles/default/xenforo/smilies/frown.png" class="smilie" loading="lazy" alt=":(" title="Frown :(" data-shortname=":(" /></p><p></p><p></p><p>Lastly, 401k match will come back when every other company in america is doing well and giving generous raises and so many people jump from the sinking ship that they HAVE to give it back or risk having no one left.</p></blockquote><p></p>
[QUOTE="randomUPSISer, post: 726179, member: 24399"] Its not a perk when every other company gives it. It should NEVER be thought of as a "perk". A perk is having flex time, getting a company car, being able to get discounts from other companies, etc. A 401k match is part of [B] compensation [/B]. Hoax, maybe I've become cynical but from what I can tell we did get a significant pay reduction. 401k cut (-3%), low MIP (-3/4 months salary), large increase in healthcare cost (sorry... health care is increasing but no one else I knows cost more than doubled then! Depending on what your salary is, this is significant or irrelevant), no COLA in 2009, (-3%?) and a token COLA in 2010. (-2%?) if I add it all up Im down at least 10% from what I was a couple years ago. Upper managements plan to give us wage reductions without us noticing has clearly worked on you :( Lastly, 401k match will come back when every other company in america is doing well and giving generous raises and so many people jump from the sinking ship that they HAVE to give it back or risk having no one left. [/QUOTE]
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401k Match...when is it coming back?
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