Originally Posted by
Gunga Din
I'm not suggesting they negotiate on a public forum. I'm not even suggesting they update us on a weekly or monthly basis. But how about you tell us what you're asking for?
Just tell us please that your asking for current (soon to be old) united rates. Tell us if you're asking for a DC and a 401k match north of 12%.
Or should they burn 3 more years of our time only to find they started with JB rates and a 10% 401k match.
Not sure how many times I have to say it but a match of any kind is hurting us. YOU DO NOT WANT A MATCH. You want a defined contribution.
Let's go with your 12% hybrid match/DC example with a 9% match and say you make $250k.
9% of $200k is $18k (your personal max) the company matches that $18k. They also give another 3% on that money in DC which is $6k. So what happens to the other $50k in earnings you made? You maxed out your match so instead of getting 12% ($6k) on that $50k you are only getting 3% ($1500). You left $4500 in retirement funds on the table because instead of a straight DC plan you had a hybrid plan. You thought you were getting 12% but you got 10.2% in reality.
If our rates go where they should be this will be a problem for every single ca and many fos if we have a hybrid plan with such high matching. You want pure DC and you can contribute if you want or take your 9% money back in your paycheck