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It's an extra $1000/year on a 100k salary. They already give 50% match and they now allow people to contribute 5% instead of 3% that is matchable. That's a 2% increase in allowed contribution which are matched but they only match half of it - which is 1% increase to annual pay that is paid via company match.
The max company match available is now 2.5% of salary (5% employee contribution, half which is matched by the employer). Before the max company match was 1.5% of salary on the prior 3% contribution.
I'll give you a hint because I'm nice. Visa contributes $2 for every $1 the employee puts in, that's a 200% match. I'll let you figure out the rest on your own. But when you finally do get it right, please come back and admit you were wrong.
I'll give you a hint because I'm nice. Visa contributes $2 for every $1 the employer puts in, that's a 200% match. I'll let you figure out the rest on your own. But when you finally do get it right, please come back and admit you were wrong.
See post below which was 2 minutes before you posted another snarky comment. Geeze, you call that nice?
More good news for Americans, as a direct result of the signing by President Donald J Trump of the 2017 TAX CUTS AND JOBS ACT. I know everyone is overwhelmed with all of the winning, so this thread becomes a twofer.
Not only do seniors get the greatly enhanced personal deduction, they kept their alreadygenerous additional $1,600 personal exemption kicker. A couple filing a married filing jointly a standard deduction of $26,600.
Now, on to the VISA news. Happy days for those employees.
Again... If these companies are trying to show how beneficial trickle down economics are, WHY DIDN'T THEY JUST GIVE THEIR EMPLOYEES A RAISE?
Increasing 401k match, something the majority of workers don't use, but the overwhelming majority of executives do, has practically zero impact on the economy or wages.
Again... If these companies are trying to show how beneficial trickle down economics are, WHY DIDN'T THEY JUST GIVE THEIR EMPLOYEES A RAISE?
Increasing 401k match, something the majority of workers don't use, but the overwhelming majority of executives do, has practically zero impact on the economy or wages.
If you're not capitalizing on $2 for $1 match then God help you. Is it trickle down when you're employer offers you a stake in the company?
Again... If these companies are trying to show how beneficial trickle down economics are, WHY DIDN'T THEY JUST GIVE THEIR EMPLOYEES A RAISE?
Increasing 401k match, something the majority of workers don't use, but the overwhelming majority of executives do, has practically zero impact on the economy or wages.
I think that's a good argument when it comes to bonus's.
My company also increased a 1% increase in the match - just after we laid off 400 people.
Depressed people here. This is great news for the some 11,000 employees at Visa.
Quote:
Originally Posted by EddieB.Good
Again... If these companies are trying to show how beneficial trickle down economics are, WHY DIDN'T THEY JUST GIVE THEIR EMPLOYEES A RAISE?
Increasing 401k match, something the majority of workers don't use, but the overwhelming majority of executives do, has practically zero impact on the economy or wages.
You are correct. Visa has something like 11,000 employees. So what if not all participate, for whatever reason? That is still a large number of people eligible for a generous benefit.
Quote:
Originally Posted by sware2cod
I don't need a math class. I quickly read visa's matching policy. I thought it said that they match $1 for every $2 contribution, which means 50% match.
But after your snarky comment, I re-read the cnbc article and now I see that visa matches $2 for every $1 contribution. I read it too fast last time.
Here's the quote:
"Visa's longstanding policy has been to contribute $2 for every $1 an employee contributes. Employees can now contribute up to 5 percent of base pay, up from 3 percent."
So yep, they get 4% more in their pocket now due to increased company match. That's nice. That's a very generous 401k match at $2 for every $1 contributed.
Used wrong wrong wording. Should have said standard deduction, not personal exemption. Had the $1600 per senior been eliminated when the standard deduction was doubled, it would have been, *****, *****, *****. Some folks cannot be pleased, no matter. Glass half full crowd.
I know what you meant. But again, the additional senior deduction stays in its current form, so does not change math. What I said is that the "doubling" (since 2x13=26, not 24) of the standard deduction does not do much since the personal exemptions are eliminated. Slight benefit for a couple with no dependents, and disadvantage for any couple with kids. It only gets worse when you consider the fact that personal exemptions could still be used if itemizing under the previous law.
And I'm not really defending any "tax breaks" or previous rules. I see 1.5 trillion added in deficit, and I don't really see any significant portion of it going to the middle class. It is just crumbs, and actually tax increases for some.
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