Any word if leadership will give teammates the 1% discretionary 401k match? When our 401k match was cut from 6% to 4% leadership said if the bank performs well, a discretionary 1% additional match will be contributed to our 401k in Q4, bringing the total 401k contribution to 5%. Given Truist has performed well in 2024, will we get the additional 1% match or is this just wishful thinking?
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All of you teammates get to wave at Bill and Beau as they fly 30,000 feet above you in their new jets, sipping martinis. The bank has calculated the value of that to you, the teammates, and determined that it is the non-monetary equivalent of a 1% increase in your 401k contribution. You're welcome.
Managing director here. We were told that it would be like everything else here, purely political. We choose who we want based on whatever reasons we want. Same with the trips, promotions, performance evaluations and raises.
3 new executive jets? When did this happen? What info is there about this?
Look for another employer with a pension plan and 401k like Truist or just go work for someone who has a higher 401k match - it will help get Truist out of your head it’s really messing with you
It is going to be hard to give that additional 1% when they have spent millions on executive retention bonuses and 3 new executive jets.
1% chance
They were hoping you would have forgotten about that.
Yeah they put that check in the mail u should get it any day….
Is this benefits.com
Bill and the LOB leaders are dressing up as mo--ns for halloween. Wait that’s every day.
@edz+1vgxMgxa - Yep. agreed!
Did they clearly define how they would measure "performs well"?
I always found it interesting how managers always had plenty of Specific, Measurable, Attainable, Relevant, and Time-based metrics they used to justify why you didn't deserve a raise . . . yet I bet they won't have any metrics to measure "bank performs well", therefore, no 1% for you!
It may not seem like a lot now, but let that 1% grow for 20 years, that's going to end up being a few rent/mortgage payments.