Originally Posted by Blue Dude

We will not get profit sharing this year. We only get profit sharing if the profit sharing pot exceeds a collective 5% of qualified pay. Last year, that number was about $70 million. It's higher this year. Last year, pre tax profit was about $730 million, net of special items. 10% of that was $73 million, minus the 5% cliff of $70 million, meant we got $3 million distributed to the whole company. It was about 0.2% of your income. What an incentive.

In order to get anything, we need to have a pre tax income that exceeds 10 times that higher-than-$70 million figure. I don't think we'll see that so we'll get nothing.

But Blue, you say, the company "already" gave us that 5% in our 401k, so aren't you being unfair? No. We get an industry standard 15-16% 401k contribution, finally. Industry standard does not include double-counted profit sharing contributions, matches, or any other company benefits, just retirement. Any other benefit should be above and beyond the standard retirement contribution, not bundled into it.

No, I'm not bitter. /s