25 employees reported this benefit
Basic matching for Company relative to competition
Better than most plans offered
Subpar. Poor match, company profit sharing is not in line with what senior leadership claims the growth of the company and profits are!
Best thing about the plan is the ability to take loans and withdrawals at a mere 2k in the account. Con. Not fully vested for 6 years.
Well managed, easy to understand
Company matches up to 50% of your contribution, based on years of employment. Also, the company match is always 100% vested. For <2 years employment, they match 25% of your contribution. For 2-4 years, 35%, and for 4+ years 50%. You can contribute any amount, the Savage match applies to your first 8%. For example, if you contribute 8%, and have worked at the company for 5 years, they will match 50%, which means they'll contribute 4% of your salary for a total of 12%.
The 401(k) gives you piece of mind to take you into retirement.
Good employer match rate. Profit sharing goes into 401k yearly
Started with Charles Swhab and I lost some Money. They now have a new firm. To late for me.
Recently changed administrators from Chuck Schwab to Vanguard. The company's matching is a less generous than what I hear from employees of other companies.