On Wed, 09 Dec 2009 20:04:58 +0000, Orchid XP v8 wrote:

> Jim Henderson wrote:
>> On Wed, 09 Dec 2009 14:48:42 +0000, Invisible wrote:
>> 
>>> 1.  Continue the suspension of salary increases 2.  Maintain the
>>> hiring freeze
>>> 2.  Minimize capital expenditures
>>> 3.  Stop company 401K contributions (match and nondiscretionary
>>> contributions) for FY 2010.
>> 
>> Wow, I didn't know you work for Novell now.  (Seriously #1 and #3 on
>> this list are things they instituted this year for us)
> 
> Ah, then perhaps you can tell me... WTF does #3 mean?

If you contribute to a 401(k) retirement account (this may be a US thing 
only - it's a pension, essentially), most companies will match your 
contributions up to a certain percentage (5% is what my experience has 
been) - so if you contribute 5% of your salary to your retirement 
account, the company will double that contribution by also contributing 
an additional 5% (not from your salary).

The "nondiscretionary" probably has to do with how it's organised for 
bonuses, at a guess.

Jim

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