Sport Bikes banner

1 - 20 of 37 Posts

·
Registered
Joined
·
5,619 Posts
Discussion Starter · #1 ·
For the first time in my life I have a 401K and they dont even match anything. I think its an 8% rate. also I have to pay for my health benefits. 20 years ago were MOST state jobs matching 401K and paying your premiums? My previous job had some bogus 401K plan that was optional and they didn't match anything either and it was a good size company making millions. They just do it because they know people are desperate for work this decade. Ugg

also congratulate me for being a sworn officer.

:goldstar
 

·
Banned
Joined
·
7,613 Posts
It's true, matching 401k's are a dying breed. I don't even see what the hell a '401k' is if it's NOT matching. And yes, I've had it a few times offered to me. It's just a way for you to have a self funded retirement that your employer benefits from by having you enrolled into their plan. So its like you are paying your employer the benefit of ...well, NO BENEFIT. you're just paying your employer rather than manning up with your money and finding a retirement plan on your own.

and if you think retirement plans are dying, go find a pension plan out there.
 

·
Registered
Joined
·
2,566 Posts
For the first time in my life I have a 401K and they dont even match anything. I think its an 8% rate. also I have to pay for my health benefits. 20 years ago were MOST state jobs matching 401K and paying your premiums? My previous job had some bogus 401K plan that was optional and they didn't match anything either and it was a good size company making millions. They just do it because they know people are desperate for work this decade. Ugg

also congratulate me for being a sworn officer.

:goldstar
Sworn officer of what? Super Troopers?
 

·
Registered
Joined
·
1,407 Posts
My company matches 100% of your contributions to a max of 7%.
They also give a $1,500 annual cash bonus just for participating.
Plus they do anywhere from 10-15% of your annual gross profit sharing if the company does well.
But yes, the 401k is dead based on your job.
 

·
Are we not men?
Joined
·
9,013 Posts
If times change and companies don't have shitloads of people to choose from for each job, maybe they'll start matching again.

Mine matches up to 6%. Health insurance is expensive as fuck and doesn't pay out one dime until I pay $10k out of pocket. (Thanks ObamaCare).
 

·
the joke is in your hand
Joined
·
8,594 Posts
If times change and companies don't have shitloads of people to choose from for each job, maybe they'll start matching again.

Mine matches up to 6%. Health insurance is expensive as fuck and doesn't pay out one dime until I pay $10k out of pocket. (Thanks ObamaCare).
but what is the % they cover?

I had it great several years ago. I paid 0 and the coverage was 100% with a $250 deduct.
that is practically unheard of.

I don't see why companies can't pay for health insurance. they need it for themselves and get discounts the more people that are on the plans.
I think it boils down to being selfish assholes. unless of course they pay you far above what others in your line of work make at other places.
 

·
Registered
Joined
·
21,263 Posts
It's true, matching 401k's are a dying breed. I don't even see what the hell a '401k' is if it's NOT matching. And yes, I've had it a few times offered to me. It's just a way for you to have a self funded retirement that your employer benefits from by having you enrolled into their plan. So its like you are paying your employer the benefit of ...well, NO BENEFIT. you're just paying your employer rather than manning up with your money and finding a retirement plan on your own.

and if you think retirement plans are dying, go find a pension plan out there.
Well one advantage to a 401k without matching over a normal index fund to invest in is you can do it pre-tax.


Sent from Motorcycle.com Free App
 

·
Banned
Joined
·
7,613 Posts
Well one advantage to a 401k without matching over a normal index fund to invest in is you can do it pre-tax.


Sent from Motorcycle.com Free App
You can get pretax deductions/contributions on your own or through a private (third party) companies plan also. You can also make adjustments on your 1040, which is the bottom line for income tax.

If you don't want to shop around, fine, but ask yourself this: what's your boss doing for you? Because it does benefit your employer to have you enrolled. There are people out there who will kiss your ass to join their plan, why give your boss back money you earned for nothing? That's Pottersville placebo.
 

·
Are we not men?
Joined
·
9,013 Posts
but what is the % they cover?

I had it great several years ago. I paid 0 and the coverage was 100% with a $250 deduct.
that is practically unheard of.

I don't see why companies can't pay for health insurance. they need it for themselves and get discounts the more people that are on the plans.
I think it boils down to being selfish assholes. unless of course they pay you far above what others in your line of work make at other places.
Like I said, $0 payout until I pay $10k. IIRC, they will pay 50% for an annual DOT physical (which is needed for CDL).

Some of the cost may be because of how unhealthy many truck drivers are.
 

·
A guy on a scruffy bike
Joined
·
15,367 Posts
but what is the % they cover?

I had it great several years ago. I paid 0 and the coverage was 100% with a $250 deduct.
that is practically unheard of.

I don't see why companies can't pay for health insurance. they need it for themselves and get discounts the more people that are on the plans.
I think it boils down to being selfish assholes. unless of course they pay you far above what others in your line of work make at other places.
One of the biggest problems with our current healthcare system is that healthcare insurance is linked to employment at all. That fucks up everything, and there's no good rational reason for employers to have any responsibility for that at all. Pay people what the job is worth, flat out in money, and let them decide what to do with their own money -- invest, save for retirement, buy insurance, don't, hookers and blow, whatever. All of this complication and bullshit is because of past government meddling, and the more they meddle, the worse it gets.

PhilB
 

·
Banned
Joined
·
7,613 Posts
One of the biggest problems with our current healthcare system is that healthcare insurance is linked to employment at all. That fucks up everything, and there's no good rational reason for employers to have any responsibility for that at all. Pay people what the job is worth, flat out in money, and let them decide what to do with their own money -- invest, save for retirement, buy insurance, don't, hookers and blow, whatever. All of this complication and bullshit is because of past government meddling, and the more they meddle, the worse it gets.

PhilB
Are you against people being forced to buy liability insurance to drive on public streets?
 

·
Registered
Joined
·
2,680 Posts
If times change and companies don't have shitloads of people to choose from for each job, maybe they'll start matching again.

Mine matches up to 6%. Health insurance is expensive as fuck and doesn't pay out one dime until I pay $10k out of pocket. (Thanks ObamaCare).
Think it's an accident? The biggest cost of bidness is the employees. A high unemployment rate means a bidness doesn't have to compensate their employees as much. That, in turn, gives management flexibility. They can lower prices in an attempt to gain market share, or raise dividends to make the stockholders giddy, or just retire debt or fatten up the rainy day fund.:pfft

Notice that this trend started during the Bush administration. Bush owned a pro sports team so was very familiar with the effect of compensation on the corporate bottom line.

Economists throw stuff at me but IMHO the single most important economic indicator is the percentage of available work force that has a full time job. The economist that was throwing was my econ 102 proff who threw an eraser at me. He ran out of counter arguments, so like any good rote trained monkey, he started throwing stuff. :beating

The entire purpose of an economy is to employ people. Logically, the measurement of how well that economy is functioning is the true employment rate.:twofinger
 

·
A guy on a scruffy bike
Joined
·
15,367 Posts
... The entire purpose of an economy is to employ people. Logically, the measurement of how well that economy is functioning is the true employment rate.:twofinger
Well, no. The entire purpose of an economy is to enable people to produce, create, and exchange goods and services. Employment is one of the roles that people may take in order to participate in an economy, but there are other roles and options.

Logically, the measure of how well that economy is functioning is the efficiency with which it facilitates the creation of wealth, the ease of voluntary exchange of that wealth, and the prevention of *involuntary* exchange of that wealth (theft, fraud, threats of (or actual) violence, property damage, dangerous negligence, etc.).

An economy which makes it easiest to create and exchange wealth honestly is the one that will have the most and best opportunities for people to prosper within it. Those people will still have to take those opportunities.

PhilB
 

·
Registered
Joined
·
2,680 Posts
"Well, no. The entire purpose of an economy is to enable people to produce, create, and exchange goods and services."

That IS employment. Look outside your box of timecards.
Employment - Definition and More from the Free Merriam-Webster Dictionary
{snipped}
"activity in which one engages or is employed <seeking gainful employment>"

It looks like you have "employment" and "job" as synonyms. They can be but not always.
One can be employed without having a job. One can have a job without being employed.
 

·
A guy on a scruffy bike
Joined
·
15,367 Posts
"Well, no. The entire purpose of an economy is to enable people to produce, create, and exchange goods and services."

That IS employment. Look outside your box of timecards.
Employment - Definition and More from the Free Merriam-Webster Dictionary
{snipped}
"activity in which one engages or is employed <seeking gainful employment>"

It looks like you have "employment" and "job" as synonyms. They can be but not always.
One can be employed without having a job. One can have a job without being employed.
OK, sure. If you define all economic activities as employment, then employment is all economic activities. In which case, your claim that the "measurement of how well that economy is functioning" is by the "employment rate" is silly, since the employment rate only measures jobs vs. job seekers (and doesn't even measure that very well).

And either way, it's still true that the purpose of the economy is to enable people to produce, create, and exchange goods and services. Employment, of whatever type, is a method of achieving this, but is not the purpose of this.

PhilB
 
1 - 20 of 37 Posts
Top