Retirement...contract talks
- Thread starter gman042
- Start date
twoweeled
Well-Known Member
Brownslave688
You want a toe? I can get you a toe.
twoweeled
Well-Known Member
You are correct! Thank you. Would you please share with the less fortunate Brownslaves?
1989
Well-Known Member
This is out of your gross earnings so if you gross $100,000 at the end of the year your match would be $6,000
Brownslave688
You want a toe? I can get you a toe.
You're the one not grasping this. Not me. My wife's employer matches at 6% that's the exact wording in the contract.
Please with your math explain to me how that 6% match turned into a 10k contribution?
1989
Well-Known Member
You could put in $6,000 and your match would be $6,000.
You could put in $18,000 and your match would still be $6,000.
But if you only put in $4,000 your match would only be $4,000.
Brownslave688
You want a toe? I can get you a toe.
Normally I'd just let you bet wrong and that would that but this people's retirement you are messing with.I tried.
I'm not the smartest man in the world but I know retirement stuff very well.
You are the only person who uses YOUR definition of a 401k match. To everyone else in the world it means something else.
Brownslave688
You want a toe? I can get you a toe.
@FrigidFTSup i know management has a 401k match. Please explain how it works.
1989
Well-Known Member
I didn't read all the posts, but nothing is based off the $18,000 max. The $1080 is irrelevant.
Brownslave688
You want a toe? I can get you a toe.
He thinks a 6% match means they match 6% of what you put in.
FrigidFTSup
Resident Suit
They'll match your 401k contribution up to 3.5% automatically. Free money
FrigidFTSup
Resident Suit
It's this way. If you make $100 and it set to pull 3.5% a month, they'll match the 3.50 you put in. If you have it set to pull 10% they'll match only up to the 3.50.
The match amount could be higher, I haven't touched my 401k since going FT, I'm trying to get rid of all my student loans before I worry about retirement.
Brownslave688
You want a toe? I can get you a toe.
We need a definition of what 3.5% match means.
@twoweeled is arguing that means the most the company will put in your 401k is $630.
Brownslave688
You want a toe? I can get you a toe.
They match 100% up to 3.5%.
Is that how you'd word it?
By the way 3.5% is a pretty
ty match.
FrigidFTSup
Resident Suit
He may be right because that gets you 3.5% of 18,000 and that is the max is it not?
FrigidFTSup
Resident Suit
Yes exactly.They match 100% up to 3.5%.
Is that how you'd word it?
By the way 3.5% is a pretty
Eh. Not really on the
ty. That's about average. I have a better match % than my parents and they're execs. And quite honestly, I'm not completely against the whole system. I'd rather take a 3.5% match and be able to control it myself than put it in the hands of some guy running a pension fund.
Brownslave688
You want a toe? I can get you a toe.
No. The match isn't a percentage of what you put in. It's a percentage of your income.
I can't believe you said he may be right. You're killing me Smalls.
Brownslave688
You want a toe? I can get you a toe.
Yes I'd much rather have control of the money.Yes exactly.
Eh. Not really on the
And quite honestly, I'm not completely against the whole system. I'd rather take a 3.5% match and be able to control it myself than put it in the hands of some guy running a pension fund.
I meant more 3.5% is
ty compared to what they put in our pension on our behalf.
1989
Well-Known Member
What a piece of crap
