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Le 09/12/2009 21:04, Orchid XP v8 nous fit lire :
> 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?
>
Long answer : http://en.wikipedia.org/wiki/401%28k%29
Short answer : your pension's retirement plan will not get sponsored
this year... we are preparing you to remain poor once retired. thanks
for your attention.
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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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