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Do any of the firms offer defined benefit pensions at staff/senior/manager level? I heard at Kpmg you vest after like 3 or 5 years but idk if that’s accurate. I had always thought it was only partners and maybe senior managers
KPMG is 5 year vest for 401K, but there is a pension that vests in 3 years for everyone. When you start they deposit 7,000 into the pension account.
fyi at ey you also have the option at retirement to have the new defined contribution plan converted to an annuity and added to your old DB plan annuity amount(old plan and related benefit is now frozen). or you can take new plan as lump sum or roll to ira at retirement
Yep, EY only matches 25% on the first 6%, and it doesn’t vest for god knows how long.
There is no pension at EY below partner anymore. It is cash value.
Wipfli does a one time contribution at 6%. No matter what we contribute, we always get the 6% I think it takes 5 years to fully vest.
Yes. 50% of up to 5% (so 2.5%). We also get an "age based" match which is also not much
Kpmg is pretty bad too. They match 50% of what we contribute up to 5%.... so max 2.5%
I've also heard that Deloitte only pays the match once a year, so depending on when you leave, you will either miss out on the match or your yearly bonus. Any one know if there is any validity to that?
Yes this is True
Is there no more pension for non partners at EY? I left not that long ago. i feel like i would have heard about that
👍🏻
I worked at a regional firm in Chicago that contributed ~6% of comp. I took it for granted at the time assuming all firms were like that and was really disappointed at the new firm of 2.5%