It’s a straight up contribution. For every dollar paid in wages, the company also contributes ten cents to the employees 401k. No employee contributions are required.
This is kind of wild to me. In Australia we have a similar thing called Superannuation. Everyone is entitled to 11% from their employer, going up to 12% by the 1 July 2025. Unions bargain for agreements with extra contributions on top of that base percentage.
That sounds an awful lot like a socialism and from what I’ve been told just doing a socialism once will bring a dictator to your door who will genocide your entire population.
It’s a straight up contribution. For every dollar paid in wages, the company also contributes ten cents to the employees 401k. No employee contributions are required.
This is kind of wild to me. In Australia we have a similar thing called Superannuation. Everyone is entitled to 11% from their employer, going up to 12% by the 1 July 2025. Unions bargain for agreements with extra contributions on top of that base percentage.
“Everyone is entitled to 11% from their employer”
That sounds an awful lot like a socialism and from what I’ve been told just doing a socialism once will bring a dictator to your door who will genocide your entire population.
F’s in chat for Norah. :(