📰 Source: upgoat.net | Upgoat
✍️ Original author: BeholdTheLight
⬆️ score: 1
v/AskUpgoat · by u/BeholdTheLight
📝 Original content:
My company has a timelocked 401K match. Personally I hate my company, its one of those horribly managed, everything is always broken, close to no structure, how in the fuck do these idiots make any money type companies. Their core vision was simple, load an api result into a web html page. They managed to fuck this up so bad im mindboggled as to how they were able to come up with such a complicated system for what amounts to show data from A on B.Shocking but also not, to say the least. This reeks to me of timelocking the match so they can fire me and not pay out come the time when they need to honor their end of the deal. I could be paranoid.
a 3% match that can only be paid out after X amount of years is at best a loan against your contribution. It used to be an equal match so you put in 3 they put in 3. But wall st got greedy. Now its popular to do .5% match against your 1. You put in 6 they put in 3 to get 9. You’re loaning the investment bank money, and they match you later. How the fuck is that not a loan against your income? I fail to see how this is a benefit to the employee, when everyone but the employee wins. The bank get their money, the company doesnt have to pay you. You have to make do with less because some assfuck on wall street needs his commission bonus. Wall st needs to be bailed out or it will be annudah shoah! Now pay up goy as we gaslight you into thinking loaning interest free money to the bank is a benefit to you.
Guarantee you in 1-2 years time as liquidity dries up the “benefit” match will be .25 against your 1. You’ll have to put up 9% to get 3% to get 12, or 4 against 8 or something like that. Sure the number looks bigger, but only because you now put up more money to get a smaller match amount. But the company match wont change. Wall st must be saved t all costs, how else can we push bullshit gdp numbers to the plebs!
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