Originally Posted by
Tom a Hawk
Sure Ill take a stab.
If you put in 5% they match that with another 5%.
Separate from that there is a 5% "retirement plus" they put in quarterly on their own which is technically profit sharing according to the language. Which means if they don't turn a profit they technically don't have to pay it.
They also do a 3% "retirement advantage" which they put in on their own monthly.
So if you put in 5% they put in 13%.
If you put in nothing they put in 8%.
I'll edit this later if I see something wrong.
I think you're confusing the Retirement Plus with Profit Sharing.
100% Match up to 5%
Retirement Plus (5% of eligible earnings paid quarterly)
Retirement Advantage (3% of eligible earnings paid monthly)
Profit Sharing (basically company's discretion; no profit, nothing to share. Has been ~3% the last few years, but recently got quite a bit more.)