G
GarciaGM
The company where I work offers both a 401k plan and a Defined
Benefits pension plan. However, due to company contribution caps and
poor stock choices within the DB plan, the company could not
participate in 401k for CY2003. All company contributions had to go
to the DB plan to "catch up" on its value. Can anyone give me a
rundown of what ramifications this has for me? I am 25 years old and
am 80% vested with both plans. It would seem to me that the 401k
contributions would be more valuable to me as a younger employee than
the DB contributions. My employer touts these two retirement plans as
"extremely competitive" and generous employment benefits rather than
providing higher salaries. I want to know if this could be used as a
salary negotiation point when the time comes for my annual raise. Any
input would be greatly appreciated.
MGarcia
Benefits pension plan. However, due to company contribution caps and
poor stock choices within the DB plan, the company could not
participate in 401k for CY2003. All company contributions had to go
to the DB plan to "catch up" on its value. Can anyone give me a
rundown of what ramifications this has for me? I am 25 years old and
am 80% vested with both plans. It would seem to me that the 401k
contributions would be more valuable to me as a younger employee than
the DB contributions. My employer touts these two retirement plans as
"extremely competitive" and generous employment benefits rather than
providing higher salaries. I want to know if this could be used as a
salary negotiation point when the time comes for my annual raise. Any
input would be greatly appreciated.
MGarcia