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Post by Deleted on Jan 13, 2011 15:18:26 GMT -5
My company is a privately owned company that offers a Profit Sharing Plan.
It is distributed the following way:
-> 100% match on 401K deferrals of 1% of salary
-> 50% match on the next 1% salary and 25% match on 3-6% of salary.
-> Any remaining stock is distributed to all plan participants. Vests in 3 yrs (I have 1 year to go)
My problem is I am a bit skeptical of this plan as we only get one statement per year ... and can we say Enron?
I would prefer they gave me cash and I use it as I please.
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Post by Deleted on Jan 13, 2011 15:30:00 GMT -5
a share of the profits is a beautiful thing
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Post by Deleted on Jan 13, 2011 15:33:04 GMT -5
a share of the profits is a beautiful thing If it was in cash... I would agree  Yes I guess it is wrong of me not to have much faith in my company  |
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Post by Deleted on Jan 13, 2011 15:41:33 GMT -5
It is good because it (in theory) incentives employees to work at increasing the profits of the company.
Full disclosure, we have a similar plan at our company.
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Post by BeenThere...DoneThat... on Jan 13, 2011 15:43:45 GMT -5
...I agree with Archie... but I have almost always worked non-profits, so we bust our butt for loftier goals...  |
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Post by Deleted on Jan 13, 2011 15:52:34 GMT -5
It is good because it (in theory) incentives employees to work at increasing the profits of the company. Full disclosure, we have a similar plan at our company. I can understand how it would work in theory and everyone would want to bust their a$$ But for some reason, I would prefer cash instead of company stocks  |
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Post by Deleted on Jan 13, 2011 15:54:00 GMT -5
It is good because it (in theory) incentives employees to work at increasing the profits of the company. Full disclosure, we have a similar plan at our company. I can understand how it would work in theory and everyone would want to bust their a$$ But for some reason, I would prefer cash instead of company stocks Yup. I hear that. |
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Urban Chicago
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Post by Urban Chicago on Jan 13, 2011 16:00:44 GMT -5
I agree that cash would be better Can you sell the stock immediately on receipt? If so, you can convert it to a traditional fund, etc...
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Post by Deleted on Jan 13, 2011 16:05:26 GMT -5
I agree that cash would be better Can you sell the stock immediately on receipt? If so, you can convert it to a traditional fund, etc... Privately held company... the only way I can get cash for the stocks is if I were to quit/get fired or retire.  |
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Post by Deleted on Jan 13, 2011 16:06:12 GMT -5
I agree that cash would be better Can you sell the stock immediately on receipt? If so, you can convert it to a traditional fund, etc... Privately held company... the only way I can get cash for the stocks is if I were to quit/get fired or retire. Is it part of a retirement plan? that is how our plan is structured. |
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Post by Deleted on Jan 13, 2011 16:08:41 GMT -5
Privately held company... the only way I can get cash for the stocks is if I were to quit/get fired or retire. Is it part of a retirement plan? that is how our plan is structured. Yep it is! Maybe we work for the same company |
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Post by Deleted on Jan 13, 2011 16:13:32 GMT -5
Is it part of a retirement plan? that is how our plan is structured. Yep it is! Maybe we work for the same company Just don't tell my boss that I posting on YM. |
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Post by Deleted on Jan 13, 2011 16:15:13 GMT -5
Yep it is! Maybe we work for the same company Just don't tell my boss that I posting on YM. As long as you don't tell mine  |
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