KPMG ups 401(k) match to 8%, from 6%, the WSJ reports. (This news is a few months old.) Article also slips in this…that the bump occurred beginning Jan. 1, “after the firm froze its pension plan on Dec 31”. Was that an employee pension freeze, or a partner pension freeze, or both?

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Both.

The new plan is terrible tbh. You only get the contribution after being with the firm for one year and then your annual contribution is pro-rated for that year (i.e., only gets applied to comp made after you've hit one year, so if you start in July, you'd get 6 months of contributions in your second calendar year).

There's also a 3 years of service vesting period. All in, when you hit fully vested, your account will only have 1.X years of match, where X equals how many months are left in the calendar year after you start. So the average employee will only get a 3% match if they leave after the vest but before the lump sum hits in February of the following year.

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Employee, not sure but assuming partner as well. KPMG discontinued the pension plan and old 401k match and now contributes minimum 6% to 401k regardless of employee contribution. Employee can get up to 8% based on years of service, etc

Employee, partner pensions fine but everyone’s probably going to adjust their partner pensions eventually as they are getting out of hand from what I hear.

Both. Also, the 8% is a little misleading. The majority of employees will be 6%. You can get up to 8% with significant tenure at the firm. Intended to offset loss of pension contribution for those who have had it previously .

If you were already in said pension plan will you still get yearly credit?

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