Does KPMG or PwC have the better benefits with the announcement of KPMG’s new retirement program?

funny
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Avoid KPMG.

likesmart

Agreed with D2 but not D1 or D3.

funnylike

Yeah still KPMG is on total comp, not base salary. 1.5 match on base and 6% on total W2 is a huge difference. On a $100K base salary + $10K bonus, this would be $1500 at PWC vs. $6600 at KPMG. Even at manager and above the 6%+ at KPMG vs PWC match, KPMG still comes out way ahead. Please check my math and or logic if not correct.

likefunny

The breakeven point is at the manager level. KPMG better if younger, and PWC better if older.

KPMG, from a 401K / retirement perspective, at the moment, has the best retirement program. I’m sure that the other Big 3 may change there programs, but right now it’s substantially better than the others.

like

Ok this is helpful. So you have to be a senior for 10 years or a manger or higher for it be better. Can you choose your own investments in the wealth builder like your 401K, or is this set up more like a pension as a defined contribution with a set annual max return (like 5%)

PwC has their wealth builder which is I think 3-8% firm contribution (depending on staff level)

Plus thier 401K match. (1.5% effective Match)

Ignoring the vest period, KPMG is better for staff/senior and PwC becomes better at manager and above

like

No, our retirement actually got worse.

Pension didn’t get taken away from them, they still have it. They may be made Bc there is no more contribution/ larger pool now since everyone except partner has their pension frozen, but will still accrue. Pension for partner still exists

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