Employer just reinstated contribution matching for 401k's.

Now I'll only have to work until I'm a hunnert and eleventy to retire !

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1961 220b: first project car - sold.
2000 CLK 430: first modern Benz - sold.
2001 CLK 55: OMG the torque!!! - sold
1972 280SE 4.5: Baby Gustav
1991 300TE 4Matic: Gretel the Snow Bunny - sold
1978 300SD: Katz the Free Man - given away
1980 Redhead: Darling Wife

Good for you!

My employer now sucks that way. No 401k at all. Though they do offer stock at a discount. Like a I really want to own their stock. No freekin way.

Got a 2% raise and a ****ty bonus as well.

Danny

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1984 300SD Turbo Diesel 150,000 miles

OBK member #23

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there was a special on one of the financial channels a while back. apparently, when employers began changing from offering 401Ks in lieu of PENSIONS, it saved them a bundle. and, as usual, the worker bees got screwed. then, they set up the 401K's to be managed by also rans. met a man last year who was down $125K in his 401K.

he looked like he needed a stiff drink.

Nice. Now to make it until you're fully vested.

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You don't need a weatherman to know which way the wind blows - Robert A. Zimmerman

100% vested on deposit (every payday).

Company also offers a stock purchase plan that is good, not great IMHO (5% off market price at either open or close of each 6 month purchase period). Not enough spare cash to play with that one right now.

Figure the 401k is a no brainer - even if we have to pull from it before I hit 59.5, the free cash the company is putting in will WAY more than offset early withdrawal penalties, so we'll scrimp enough to take advantage of $4k a year free money.

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1961 220b: first project car - sold.
2000 CLK 430: first modern Benz - sold.
2001 CLK 55: OMG the torque!!! - sold
1972 280SE 4.5: Baby Gustav
1991 300TE 4Matic: Gretel the Snow Bunny - sold
1978 300SD: Katz the Free Man - given away
1980 Redhead: Darling Wife

I worked for the world's largest electronics contract manufacturer. When I hired on in 2000, the salary offered was supposedly 95% of the market value for the position with an opportunity to make up to a 10% bonus. For the first 4 or 5 years, my site consistenly met or exceeded goals. But the bonus was tied to overall company performance. So we received little of the 10% available.

Then they unceremoniously dropped the available bonus to 5% of your annual salary. My site continued to perform.

Of the 10 annual review periods, salaries were frozen in 7 of them.

I did a calculation and figured I was making less in year 10 than the day I started with them. And after 10 years, I made significantly greater contributions to the company because of increased skills and responsibility.

But that's all water under the bridge now. They laid me off Jan 15.

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Behind every great man is a great woman. Behind every great woman is a great behind.

I wish I had a raise and bonus to complain about. Or a paycheck in the first place.