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Best company 401k plan you've ever seen or heard of?

Posted on 9/25/14 at 12:52 pm
Posted by Tigerfan56
Member since May 2010
10520 posts
Posted on 9/25/14 at 12:52 pm
My CPA firm has a professional athlete client whose team offers a 125% match

Only match up to 17k, which is nothing to a pro athlete, but that is still impressive
Posted by mostbesttigerfanever
TD platinum member suite in TS
Member since Jan 2010
5016 posts
Posted on 9/25/14 at 12:53 pm to
quote:

Only match up to 17k


employee can only contr. 17,500 this year anyway (so yes, that would be an accurate maximum match)

anything else is nonelective, or profit share up to max of 52k (not incl. catch-up)

This post was edited on 9/25/14 at 12:55 pm
Posted by Tigerfan56
Member since May 2010
10520 posts
Posted on 9/25/14 at 12:56 pm to
If a player were to put in 17.5k then the company would put in $21,875. Insane to think about
Posted by Shepherd88
Member since Dec 2013
4579 posts
Posted on 9/25/14 at 12:58 pm to
Is this a 401k or a DB Pension Plan?
Posted by mostbesttigerfanever
TD platinum member suite in TS
Member since Jan 2010
5016 posts
Posted on 9/25/14 at 12:58 pm to
right, but the maximum contr to any 401k, incl. match, non-elective contributions and profit share is 52k.

for an regular employee of a relatively small firm, your example seems to be quite good, though
Posted by mostbesttigerfanever
TD platinum member suite in TS
Member since Jan 2010
5016 posts
Posted on 9/25/14 at 1:00 pm to
quote:

DB Pension Plan?


DB Pensions don't have 'matching' criteria
Posted by LigerFan
Member since Jan 2014
2711 posts
Posted on 9/25/14 at 1:00 pm to
I audit a plan that throws in the max contribution for their executives every year. Execs don't contribute a penny.
Posted by mostbesttigerfanever
TD platinum member suite in TS
Member since Jan 2010
5016 posts
Posted on 9/25/14 at 1:03 pm to
quote:

I audit a plan that throws in the max contribution for their executives every year. Execs don't contribute a penny.


as long as the execs have earned income, it's probably all classified as profit sharing (unless it's DB)
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37007 posts
Posted on 9/25/14 at 1:36 pm to
Had a company client that deposited 3 percent into the 401K account as a contribution each year, PLUS matched dollar for dollar up to the employee's deferral limit. For some older high-compensated employees, they bumped into the overall additions limitation.

I also just took on a new individual client that has this add-on plan for execs that are maxed out of their 401K. It is basically a non qualified deferred comp plan, but essentially, you elect a percentage to contribute each year. Once your 401K bucket fills up, that amount then goes into this deferred comp plan, and gets matched at the same rate that the 401K matches (which is 50 cents on the dollar, with no cap).
Posted by MamouTiger65
Baton Rouge, La
Member since Oct 2007
794 posts
Posted on 9/25/14 at 1:58 pm to
Wife contributes 4% company puts up 10%.
Posted by Hoyt
Alabama: The Beautiful
Member since Aug 2011
5394 posts
Posted on 9/25/14 at 1:59 pm to
My company contributes 10% of annual salary regardless of employee contribution...
Posted by Teddy Ruxpin
Member since Oct 2006
39553 posts
Posted on 9/25/14 at 2:16 pm to
quote:

Best company 401k plan you've ever seen or heard of?


The one that puts money in my bank account every two weeks.
Posted by FAF
NOLA
Member since May 2014
1427 posts
Posted on 9/25/14 at 3:59 pm to
Exxon: Put in 7% of your salary and they give you 10% of your salary.
Posted by TigerDeBaiter
Member since Dec 2010
10256 posts
Posted on 9/25/14 at 5:10 pm to
My dad used to work for a private company that matched 100%. Period. No limits, other than your personal tax implications. They were bought out by a public and that was one of the first things to go.
Posted by NoHoTiger
So many to kill, so little time
Member since Nov 2006
45721 posts
Posted on 9/25/14 at 5:46 pm to
My company matches 150% up to 4% and then 100% up to 6%. Best I've ever had for sure.
Posted by Doc Fenton
New York, NY
Member since Feb 2007
52698 posts
Posted on 9/25/14 at 5:53 pm to
Are you in the private sector?
Posted by C
Houston
Member since Dec 2007
27816 posts
Posted on 9/25/14 at 6:06 pm to
quote:


Exxon: Put in 7% of your salary and they give you 10% of your salary.




I don't think so.
Posted by TheIndulger
Member since Sep 2011
19239 posts
Posted on 9/25/14 at 6:18 pm to
had a job offer with a company that matched dollar for dollar up to 20% of your salary.
Posted by TigerintheNO
New Orleans
Member since Jan 2004
41157 posts
Posted on 9/25/14 at 6:58 pm to
quote:

Is this a 401k or a DB Pension Plan?


interesting point, what profession sport team/organization have 401Ks and not a DB Pension Plan?
Posted by Nobs
Houston
Member since Dec 2010
377 posts
Posted on 9/25/14 at 7:22 pm to
quote:

Hoyt


Mine does the same.
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