I think some of you miss the point, while it’s called “Company Contribution” on our 401k reports, they is all “my” contributions some are just part of the contract and any amounts above that are done by my personal election.
Why do I point this out? Back in the day UAL attempted to claim certain retirement funds as their own. Yes these funds were the “overfunded” portion of the defined benefit account, but after a court battle it was made clear they were not UAL’s. And some may have already forgotten it wasn’t that long ago your 401k deposits were a substantially lower percent of hourly earnings.
The not so subtle message naming this “Company” make some think they are being blesssed some how by a benevolent corporate structure. Yes the job is a blessing, and it is restricted to a very few, but we earned those $$$ as much as we earned any amounts we choose to deposit above the contracted earnings.
Essentially this is a contractually forced savings account and protects those who wouldn’t contribute if they had a choice.
Off my soap box. You all earned every dime in your 401k, and never forget it!
Last edited by Regularguy; 01-19-2018 at 06:51 PM.