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jim t · 11-30-2007, 09:46 PM

That change is pretty significant... in the "old" 100% match up to 6% it cost the company $6000 for the $6000 you contributed. NOW you'll only get $3000 in matching funds for that same $6000 that you contributed.

Now, it'll take $12000 of YOUR money to get $6000 of THEIR money!

That's the break even point when you compare the old and new plans.

IF you can afford the full $15,500 you'll get more ($7750).

The company pulled a fast one on most of it's employees... BUT it IS better IF you can contribute more than $12000! Until then you lose company contributions with the new plan.

Sneaky huh? Unless you do the math, the NEW plan sounds better... for A LOT of employees who cannot afford to contribute more, the company makes HUGE gains.

Jim

11-30-2007, 09:46 PM	#10
jim t Neptune calls me "Daddy" Blue Marlin Join Date: Sep 2007 Posts: 5,629	RE: 401K Question That change is pretty significant... in the "old" 100% match up to 6% it cost the company $6000 for the $6000 you contributed. NOW you'll only get $3000 in matching funds for that same $6000 that you contributed. Now, it'll take $12000 of YOUR money to get $6000 of THEIR money! That's the break even point when you compare the old and new plans. IF you can afford the full $15,500 you'll get more ($7750). The company pulled a fast one on most of it's employees... BUT it IS better IF you can contribute more than $12000! Until then you lose company contributions with the new plan. Sneaky huh? Unless you do the math, the NEW plan sounds better... for A LOT of employees who cannot afford to contribute more, the company makes HUGE gains. Jim __________________ GO GATORS!!!