I wouldn't be too sure of that, especially for new hires covered by the Company plan.
You say that but on my old route, a pipeline company stopped pensions for new hires.
Have you seen the young guys on here? They are wild with their fantasies about what kind of profits a corporation should have and what they deserve. If the company sweetens the deal, they will sell out new employees for their benefit.
Newbies, especially PTers, like the portability that a 401k provides. The era of career UPS drivers is slowly coming to an end; to that end, offering a 401k in which pension contributions are deposited as opposed to a pension, defined benefit or otherwise, in which the member has to meet minimum age and years of service criteria in order to begin collecting, will be a huge selling point.
The employer's 401(k) maximum contribution limit is much more liberal. Altogether, the most that can be contributed to your 401(k) plan between both you and your employer is
$66,000 in 2023, up from $61,000 in 2022. (Again, those aged 50 and older can also make an additional catch-up contribution of $7,500 in 2023.)
How often do millennials job-hop? According to Zippia, on average, a millennial will stay at their job for 2.75 years. And according to a Gallup report on the millennial generation,
21% of millennials surveyed report changing jobs within the past year – more than three times the rate of other generations.
finance.yahoo.com
by the end. I'll carry the torch and scream loud at every chance I get.
