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Which consulting firm has the best 401k match?
How often do you travel abroad for leisure?
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Pro
PwC’s is low because they put an additional 3-7% on top of it that requires no contribution on our part.
Overall, it’s not bad. Looking at just the match, it’s terrible.
Chief
No, it vests in annual percentages alongside your 401k. And it has the same investment options as your 401k.
It’s structured virtually the same as the 401k, with the caveat that you can’t do things like take loans against it (I believe) like you could with a 401k.
For D, likely because they offer the pension plan too. So the average employer contribution of the two combined probably lines up close to average when you compare other organizations who just have a 401k
Ya, i agree. I didn't know abt pension until i onboarded. And, i think that covers up low 401k match
Chief
We have 1.25% + no pension. TOP THAT BIG4!!
Chief
Thought we canceled pension… no?
Rising Star
PwC has another retirement savings program called Wealth Builder which compensates for 401K shortcomings
I think the nominal match exists to just encourage 401k contributions and the cash balance plan is the real excitement. And it does motivate me to contribute at least 6% so can’t say it’s not without merit.
Chief
Because they're cheap.
For crying out loud, the feds offer a 5% match (or even a 10% match at the financial regulatory agencies) + a high-3 pension, all while offering other benefits that are in the same ballpark as what B4 offers.