January 19, 2012
I love it when I get this question— have you ever wondered about this?
FAQ: Karen, why doesn’t EmergiNet have a 401-K Match?
A: A 401-K match is a common means for a company to determine how much they will contribute towards your retirement plan. For example, a “.50 on the dollar” match means if you contribute $3,000 to the 401-K during the year, that the company will match it at $1,500. But the company ONLY contributes to the plan as a percentage of how much you first contribute.
The EmergiNet plan is far more generous. We contribute a percentage of your wages to the plan (over 13%) even when you don’t contribute to the 401-K. To this, add the fact that we do not have a ‘vesting schedule’. When we place the money into your retirement account-- it is 100% yours. Full stop.
I have been told by our Retirement Plan Consultants that they have NEVER seen a plan as generous as ours.
So, the next time you get asked this question, you have official ‘bragging rights’ that your EmergiNet plan is the very best there is!
For more information, see the HR section of this website under Retirement Plan or drop me a note at kyoung@emerginet.com