37 employees reported this benefit
Geo Group does not participate in their employee 401ks.
Does the GEO group require RMD at 70.5 if still working? Many companies provide a "still working" provision so RMD is not required until retirement
the 401k is below average. i believe it is 1.5% match
They only match 50% up to 5% of what you put in. Should be dollar for dollar up to 10%.
401K is offered through Mass Mutual. Matching contributions up to 3% but only after 3 years.
Does not have matching funds
A 401K is a retirement vehicle. They don't manage it themselves, it not like a defined benefit. All in all it is a way to save toward your retirement. I currently put 15% of my salary into the plan because I retired for another place that had great benefits. Mass Mutual Insurance Company manages the 401K and have many vehicles to invest your money. Ignorance will keep you poor or financially struggling for the rest of your days. Put a little away now and build toward better days.
you pay into it yourself it is not deducted automatically for you.
They tell new hires that the 401K plan is a retirement benefit. This company does not offer any type of retirement benefits to their employees. The only thing that is offered is the 401K. They match $.50 for every dollar the employee contributes. It's certainly better than nothing at all, but they should not misrepresent this plan as a company retirement plan, because that's not what a 401K is.
401k plan is not bad,