Does your company give you an end of year 401K bonus? | TigerDroppings.com

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LSU6262
LSU Fan
Member since Jun 2008
2317 posts

Does your company give you an end of year 401K bonus?



Everyone got $600 added to their 401K






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Chris4x4gill2
Alabama Fan
North Alabama
Member since Nov 2008
2069 posts

re: Does your company give you an end of year 401K bonus?


our profit share is given as a 401K contribution at year end.





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ThatsAFactJack
Broussard
Member since Sep 2012
489 posts

re: Does your company give you an end of year 401K bonus?


Not year end, but every May we get a 401k deposit from company for 3% of salary.







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LSU6262
LSU Fan
Member since Jun 2008
2317 posts

re: Does your company give you an end of year 401K bonus?


quote:

3% of salary.


that's nice






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TheIndulger
LSU Fan
Member since Sep 2011
11347 posts

re: Does your company give you an end of year 401K bonus?


I got something last year, I think it was a profit sharing type of thing, since we dont get bonuses throughout the year. It was based on how much money you put into your 401(K) that year. Mine was like 5-7 thousand deposited into retirement account.





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dustinm27
LSU Fan
Member since Oct 2008
2760 posts

re: Does your company give you an end of year 401K bonus?


I believe my company matches 10% of or own contributions





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El Josey Wales
LSU Fan
Greater Geismar
Member since Nov 2007
22710 posts

re: Does your company give you an end of year 401K bonus?


My company doesn't offer 401k.





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bunky
LSU Fan
FREE EL GUACHO
Member since Jul 2011
4471 posts

re: Does your company give you an end of year 401K bonus?


quote:

I'm looking for a new job


FIFY






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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30530 posts

re: Does your company give you an end of year 401K bonus?


quote:

quote:
I'm looking for a new job


FIFY


No kidding. If my company didn't have a 401 or something similar like a 403 I'd be looking elsewhere.






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El Josey Wales
LSU Fan
Greater Geismar
Member since Nov 2007
22710 posts

re: Does your company give you an end of year 401K bonus?


Yep. I should be.

The vacation plan sucks too.



This post was edited on 1/2 at 3:30 pm


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El Josey Wales
LSU Fan
Greater Geismar
Member since Nov 2007
22710 posts

re: Does your company give you an end of year 401K bonus?


Absolutely no retirement plan is offered.





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rsande2
LSU Fan
Member since Jan 2006
3423 posts

re: Does your company give you an end of year 401K bonus?


quote:

Does your company give you an end of year 401K bonus?


Sometimes, we either get this or some kind of bonus, I am good either way.






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KG6
LSU Fan
Member since Aug 2009
2771 posts

re: Does your company give you an end of year 401K bonus?


4% of salary on top of the 6% match. Not to shabby. I can complain about a lot of things, but not our benefits.





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tylercsbn9
LSU Fan
Tomball, TX
Member since Feb 2004
55524 posts

re: Does your company give you an end of year 401K bonus?


Not to my 401k, but I got 5 Percent of my salary for the year as a bonus on my last check

And next year I'm up to 4 weeks vacation.

Be jealous.



This post was edited on 1/2 at 5:42 pm


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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1634 posts

re: Does your company give you an end of year 401K bonus?


I had a $1,315 401(k) bonus





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The Cable Guy
Iowa State Fan
Baton Rouge
Member since Aug 2004
9692 posts

re: Does your company give you an end of year 401K bonus?


Yes it is guaranteed once per year. Really nice and it is generous.





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Bayou Tiger
LSU Fan
The Woodlands, TX
Member since Nov 2003
3296 posts

re: Does your company give you an end of year 401K bonus?


quote:

Everyone got $600 added to their 401K

Interesting. Is this part of your annual bonus, or did this number just come out of the blue?

My first thought (the cynic in me) is wondering if this is your company's way of clearing the 401k non-discrimination test, in lieu of refunding contributions made by highly compensated employees. I am not an HR person, but remember reading about this a while back.

Highly Compensated Employee Rules Aim to Make 401k's Fair

quote:

The test requires that employees be split into two groups: highly compensated and nonhighly compensated. For the 2012 tax year, highly compensated employees are those who earned more than $115,000, or owned more than 5 percent of the business. (The compensation limit is based on the previous year's compensation, while the ownership limit is based on the previous or current year.) You are considered highly compensated in 2012 if you earned more than $115,000 in 2011.

The test is as follows: the average contributions of highly compensated employees, as a group, cannot exceed the average contributions of nonhighly compensated employees, as a group, by more than about 2 percent. (Age-50 catch-up contributions are not included in discrimination testing.) If the HCEs exceed this threshold and the employer fails to correct the imbalance, the plan could lose its tax-qualified status and all contributions and earnings would have to be distributed to all plan participants. In addition to the 2 percent spread, the contributions of all HCEs as a group may not be more than two times the percentage of other employees' contributions.


10 Steps If Your 401(k) Plan Fails Nondiscrimination Testing

quote:

3. Consider making a qualified non-elective contribution (QNEC) or qualified matching contribution (QMAC). If cutting back the highly compensated employees' contributions is highly unpalatable, there are other options. A QNEC is an employer contribution that is made to the plan on behalf of every eligible employee, whether or not he or she contributes to the plan. A QMAC is an employer matching contribution that is allocated only to those employees who defer. The employer would need to contribute enough money to make the plan pass the nondiscrimination test. Most employers do not take these approaches because doing so is expensive and because the employer contributions are 100 percent vested immediately.






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