Thursday, July 06, 2006

Net income objectives

Just got an e-mail saying that The Corporation has reinstated 401k
matching. We'll see how log this lasts. You see, back in April of 2002 was when we first had our 401k matching discontinued. A month later they discontinued bonuses and instituted a salary freeze. It wasn't until September of 2004, after the company got bought by The Corporation that 401k matching was re-instituted. We thought at the time that it was the first sign that things might be improving. But less than a year later, in August of 2005, 401k matching was again discontinued.

Now, they are trying again.

"The company will once again be providing a match component to the 401K plan. There will be a standard match in which the Company will match 50% of the contributions you make to the 401K Plan after July 1st. This Company match is limited and will only apply to the first 2% of your pay. In addition, the company will provide a performance match. If the company achieves its net income objectives, the Company will match an additional 50% of your contributions made after July 1st."

Why are they coming up with a dumb-ass number like "50% of the first 2%"? Why don't they just say 1%?

Ohhhh, I'm all aquiver. 50% of the first 2% of my income is a little over $300 a year. At this rate, I'll be able to retire in 2178.

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