Does anyone know what day of this month that the 401K Match for 2018 will be released to employees?
18 replies (most recent on top)
Also, we have not had that money in the market for most of the year, which is a loss of interest, while h'well has gained on our match funds in a growing market. It's like when you get a big tax return.
The thing in front is a decimal point.
Like I said, I was being conservative. So let's just say, "closer to .5B than .2B.
To -6ewa: Check your math. You're off by an order of magnitude: 100,000 x 60,000 x 0.07 = 420M.
As for why the amount they report is even lower than that: 401(k) only applies to US employees so that 100k number is actually much smaller. Also, you'd be very surprised how many people who are eligible don't participate in the program or don't contribute enough to get the full match. And not just HON employees. It happens throughout the country. Yes, people leave free money on the table.
And, how is the email from corporate stating the match payout is less then 200M? If 100,000 employees contributed 8% to the fund, at an average salary of 60K(which is conservative), the payout should have been .5Bil or higher. What the fark is going on?
To 3znq, stfu a'hole. You are an HR drone, or mgmt who watches this board. Eat a dik and hope we don't find you..
Laughing at folks here that think the stock price has anything to do with the match.
Its based off what you contributed, nothing to with stock performance.
Forgot what the math is now, 75% match? So they give you .75 for every 1.00 you put in up to 8% for the year. Thats it. Zero to do with stock performance throughout the year.
Just like they string out suppliers, they string out the employee benefits.
Usual bunch of whiney snowflakes commenting. Be greatful you still have a job ffs. It should be done by the end of the month ffs W2's aren't even out. People need to chill tfo!
They've literally had all year to make the calculation. What should have happened is the match being applied to employee contributions throughout the year in a ghosted account that is revealed the day it was supposed to be awarded, including dividends and price changes. It says a lot that the delay has everyone thinking they're going to get screwed, because we probably are.
Remember, 7% lump sum is not better than 7% bi-weekly. They telling you 7% lump sum is better than old plan (6% bi-weekly) is hog -wash. You have to compare equal rates with the different methods .
Disappointing, sure, but not surprising.
They are probably waiting for the day when stocks are high so that way they give you as little as possible. Calculating....yeah right. Even a 3rd grader can do the math in a few minutes.
The fact that it takes them so long to give you an earned benefit is very disappointing.
By Jan 31 2019.
The number of shares in match depends on which day they use at what the price was per share. The amount of money (the 7% of gross if you went with atleast of 8% 401K contribution ) is reflected in the number of shares issued when match is given.
They will come up with some blaming the spinout shares
They are likely scheming behind the scenes to determine how little to give you without being sued, considering the downward movement of the stock price this year. Dec 17th closing price was $134.38, and it fluctuated between $167.72 and $123.48 during the year (with the lowest performance in the last week of the year). I bet they are asking their legal team if they can legally match at $123/124 and make the amount lower! Good luck to all!
Give them time, they are “busy calculating your match” lol a middle schooler can do the math it takes to figure out your match in 5 minutes.
As with everything money related expect the last date possible Jan 31st