4 ms·
Wow, where do you work with a 50% no limit match?
by throwaway12893 6y ago
Wow, where do you work with a 50% no limit match?
- lvh 6y ago(I'm not GP.) Latacora has a 100% no-limit contribution match and non-shitty funds (access to all of Fidelity's index funds), loan provisions, and all conversions unlocked for any reason, available on day 1, with all contributions immediately and fully vested. We also eat every fee we're allowed to eat.
- CydeWeys 6y agoWow, that's the dream right there. Do you also have access to after-tax contributions (mega back door)?
- lvh 6y agoWhat do you think? :-) (FWIW: I am personally the trustee on the plan for effectively the same reasons. It's pretty tricked out, and I'm very proud of it.)
- CydeWeys 6y agoNiiiice. It's hard to imagine a better 401k plan than what y'all have. Enjoy it. And I assume, based on everything else, that you have a reasonable low-fee provider like Vanguard or Fidelity with good low-fee fund options.
- lvh 6y agoFidelity, and every index fund Fidelity has to offer, yep. The QDIA is an automatically selected target date fund-of-index-funds, but I'm manually allocated.
- ccn0p 6y ago/me sends resume there
- kapilvt 6y agoI’m curious as well, as reference for another tech company, say amazon, it’s up to a 3% match but only vests after three years. Iotw tech is all over the map on 401k afaics.
- CydeWeys 6y agoAmazon is pretty notorious about being stingy on perks, and this area is no exception. They're the worst out of all the FAMANG companies.
- zippergz 6y agoTo be clear, there is an implicit limit because there’s an overall limit on how much you can contribute to a 401k each year...
- Jtsummers 6y agoThe importance of a "no limit" match is that it disconnects your benefit from your salary. Most matching offers are limited by your salary so a lower paid worker gets less benefit than a higher paid worker.
- IshKebab 6y agoYeah "common in tech" my arse.
- CydeWeys 6y agoSome of the very largest tech companies offer these kinds of plans. Google and Microsoft do. Facebook has a 50% match up to 7% of salary, so if you're making over $139k/yr (which every technical employee is) then it's functionally the same. Apple is 50% match up to 6% of salary, which equalizes at $162k/yr. Add all that together, plus all the smaller companies that also have great plans (like Netflix) and we're talking over a million employees in tech that all get the effective benefit of the company contributing 50% of the IRS personal contribution limit. I would call that common.
- IshKebab 6y ago> Facebook has a 50% match up to 7% of salary > Apple is 50% match up to 6% of salary Err yeah. He said "no limit". 7% and 6% are limits. Very normal ones (5% is the most common limit in the UK). I've never heard of unlimited matching.
- CydeWeys 6y agoGoogle.
- throwaway12893 6y agoAh, sadly I am in the "they already use my code but I can't whiteboard a binary tree inversion" camp.