My employer claims to have 'one of the "richest" 401-K plans among
major corporate employers' and also to have the 'richest plan in the
IT industry'.
I would like to be able to verify that via the web, by seeing the
major terms of the 401K plans of major companies, especially those
like the S&P 500, and especially companies in the IT industry.
The implication of "richest" implies how much the company provides in
terms of both what they put in (post defined benefit retirement plan
era) plus what they match.
So specifically, I want to be able to compare the numbers they give to
two kinds of companies:
1). Large coprorations
2). Successful IT companies
I would STRONGLY prefer to be able to see charts or tables gleaned
from cited url(s), so I can easily make comparisons, vs. for example,
having to hunt and peck around in scores of separate url's that point
to one company at a time.
(My searches seem to come up with endless ads for companies that
provide 401-K's, but little else of substance).
Clearly, a table (or a handlful of tables) that would show, for
example, the majority of the S&P 500, and/or, say, a few hundred tech.
companies with reasonable name recognition and clearly show how much
they contribute in percentage terms without requiring an employee
match (if any), and how much they match, and at what percent, would be
ideal.
If that's not reasonably easily obtainable, then, summarized data for
roughly 25 S&P 500 companies in various industries, and the same for
roughly 25 IT companies with reasonable name recognition would do the
job just fine.
As an example, I saw in an article that Alcoa announced the
termination of their defined benefit retirement plan, and that they
would use a 401K plan instead. It said their 401K would provide 3% of
an employee's pay as a base contribution (whether the employee
contributes or not), plus they'd match (at 100% is implied)for up to
6% of the employee's pay. So, the total potential company 401K
contribution is 9% of the employee's pay.
Those are the kinds of numbers I'd like, but I'd STRONGLY prefer from
some kind of authoritative / official website, vs. articles that may
or may not have the figures correct depending on how much of a hurry
the journalist was in, or how fly-by-night the publication may be.
Reasonably recent (say in the past 6 months or so) data is definitely
preferred, since the landscape is rapidly changing -- I want to be
able to compare apples and apples.
It is KEY that I get url's for the source data I can cite, so if I
decide to write my employer a letter, etc. I can state sources and not
appear to relying on rumor for my data.
If I can clarify, please let me know. If my offer is insufficient
for the work involved (I don't know until I ask), please let me know
why, and feel free to make a counter-offer. |