Originally Posted by
mikenike
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Oh but what about the 5% I no longer have to contribute to my 401(k) to get the company match. The 5% is taken out of profit sharing. Next question.
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That’s not really true. Retirement has nothing to do with profit sharing anymore. The 5% you don’t have to contribute isn’t really a raise through, you just have the option to allocate your money differently, take it now or keep sending it to retirement.
Under the TA, we get a 2% increase in company contribution to retirement. Also, since PTOSB never counted for profit sharing or CSPP, the increased hourly rates will equate to a small bump for both of those, even though the calculations remain unchanged.