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Old 07-19-2008, 07:07 AM   #21
Thinks s/he gets paid by the post
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Join Date: Mar 2006
Location: Houston
Posts: 4,337
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.
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
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Old 07-19-2008, 08:09 AM   #22
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Join Date: Jul 2005
Location: N. Yorkshire
Posts: 31,540
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, moved to England in May 2016
Enough private pension and SS income to cover all needs
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