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Old 07-19-2008, 07:07 AM   #21
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Join Date: Mar 2006
Location: Houston
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I get a "profit sharing" contribution once per year into my 401k. It isn't a match because you don't need to contribute to get the payment. It runs between 4.75 and 5.00% - at least for the last 3 years. The company is making a massive profit these days.

We have a SEPP plan for us "high level" employees. I'm a grunt and am proud of it. The SEPP plan contributes 8% of whatever I contribute. It has a 5 year vesting period so I don't expect to collect any of it. I haven't read the plan literature carefully but their may be a "retirement vesting" clause. The whole point of the SEPP is to discourage me from leaving the company but it won't have any impact when the time comes.

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Old 07-19-2008, 08:09 AM   #22
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We still have a defined benefit pension plan and a 50/100 match on the first 5% in the 401(k). The parent companies did away with their defined benefit pension plan years ago and every year are expectations that ours will go that way as well.

Retired in Jan, 2010 at 55
Now it's adventure before dementia
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