Is that vesting for each contribution? For every company I’ve worked at, it’s 0% vested until X years, then 100% immediately vested for all contributions.
My company is similar, but over 3 years. It’s a weird way for them to save a few thousand bucks per employee who quits (since you get the full amount by the 3 year mark).
Is that vesting for each contribution? For every company I’ve worked at, it’s 0% vested until X years, then 100% immediately vested for all contributions.
It’s 20% per year. It’s not… bad… but this 401k is going to be a joke when I retire.
My company is similar, but over 3 years. It’s a weird way for them to save a few thousand bucks per employee who quits (since you get the full amount by the 3 year mark).
Or gets laid off… if they fire them, they should have to pay 100%