Do 401(k) plans vary among firms?

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Morgan12Oak
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Joined: Tue Mar 23, 2010 1:59 am

Do 401(k) plans vary among firms?

Postby Morgan12Oak » Mon Feb 04, 2013 10:46 pm

Do most firms have similar 401(k) plans they offer to their employees?

Do many/any match contributions?

Hard to get details of 401(k) plans from their websites so was hoping to get some inside knowledge from people who are privy.

Anonymous User
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Re: Do 401(k) plans vary among firms?

Postby Anonymous User » Mon Feb 04, 2013 10:48 pm

Reed Smith has a 401k but doesn't match for associates. Only for of counsels and partners.

exitoptions
Posts: 263
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Re: Do 401(k) plans vary among firms?

Postby exitoptions » Mon Feb 04, 2013 10:50 pm

Morgan12Oak wrote:Do most firms have similar 401(k) plans they offer to their employees?

Do many/any match contributions?

Hard to get details of 401(k) plans from their websites so was hoping to get some inside knowledge from people who are privy.


Firms don't match 401k.

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holdencaulfield
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Re: Do 401(k) plans vary among firms?

Postby holdencaulfield » Mon Feb 04, 2013 11:08 pm

exitoptions wrote:
Morgan12Oak wrote:Do most firms have similar 401(k) plans they offer to their employees?

Do many/any match contributions?

Hard to get details of 401(k) plans from their websites so was hoping to get some inside knowledge from people who are privy.


Firms don't match 401k.


Mine does.

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thesealocust
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Re: Do 401(k) plans vary among firms?

Postby thesealocust » Mon Feb 04, 2013 11:39 pm

A few firms match; Wachtell being a notable and amusing example. Most do not.

Morgan12Oak
Posts: 451
Joined: Tue Mar 23, 2010 1:59 am

Re: Do 401(k) plans vary among firms?

Postby Morgan12Oak » Mon Feb 04, 2013 11:46 pm

So anecdotally, do most first and second years with loans opt to contribute to their 401(k) or is it pretty mixed?

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thesealocust
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Re: Do 401(k) plans vary among firms?

Postby thesealocust » Mon Feb 04, 2013 11:59 pm

Morgan12Oak wrote:So anecdotally, do most first and second years with loans opt to contribute to their 401(k) or is it pretty mixed?


It's extremely mixed. From casual conversation I know more passing on the option to contribute than I know taking it.

Certainly the NPV of paying down loans > the EV of 401(k)s, but it's psychologically nice to start early and the yearly income tax shield is quite valuable in and of itself.

kryptix
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Joined: Tue Jun 29, 2010 5:40 pm

Re: Do 401(k) plans vary among firms?

Postby kryptix » Tue Feb 05, 2013 9:04 am

I'm going to miss the rather large contribution my current job makes to my 401K then I guess... Oh well, money in hand is better :)




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