What Type Of Retirement Benefits Does Your Company Provide?

JH
John Honovich
Sep 02, 2014
IPVM

This question came up in the integrator salary results report.

This would be a good opportunity to share and contrast what retirement benefits various companies offer.

In my experience, the two most common options are none and 401K matching.

For IPVM, we automatically contribute 20% of one's annual salary to an IRA (SEP IRA). So if the salary is $100,000, an additional $20,000 is directly deposited into the employee's IRA. Then the employee can invest it as they see fit - money market, bonds, stocks, mutual funds, etc.

Vote - What Does Your Company Do?

JL
John Lord
Sep 02, 2014

mine matches 4% but only puts the match in as a lump sum six months after the year end

UM
Undisclosed Manufacturer #1
Sep 02, 2014

Up to 3 percent matching to IRA.

Avatar
Ross Vander Klok
Sep 03, 2014
IPVMU Certified

I am an end user so probably not comparable to an integrator but interested to see how we stack up. We get 4% of our pay per quarter into a 401k. On top of that they match 100% of our contributions up to 3% of pay.

Avatar
Carl Lindgren
Sep 04, 2014

Company contributes (matches?) 50% of up to 6%. I can put as much more into my 401k as the law allows (in my case, up to $23,000 per year plus the company contribution).

UM
Undisclosed Manufacturer #2
Sep 04, 2014

I am from manufacturer side. We get a match 100% of the contribution, up to 5% of the salary into our 401k.

UI
Undisclosed Integrator #3
Sep 04, 2014

Company 401K match up to 6%.

JH
John Honovich
Sep 04, 2014
IPVM

Thanks for the written responses.

I'd be curious to hear more about the people who voted none (which is 40%+ right now). Is that an issue for you or?

I used not to care about it, but 'as I get older' and I make more money, being able to put money tax deferred into a retirement account it's more valuable to me.

JH
John Honovich
Sep 13, 2014
IPVM

Update: With 30 votes, 40% of you say that you are provided no retirement benefits.

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