Applied's 401(k) employer match is a scam

Discussion in 'Applied Medical' started by Anonymous, Sep 13, 2013 at 9:51 AM.

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  1. anonymous

    anonymous Guest

    Excellent 401K program.
     

  2. anonymous

    anonymous Guest

    It sucks. Match is $500 per year. I'm not a Muslim so I don't need 10 mutual funds that contain zero banking gambling tobacco or alcohol stocks. Keep the sin free plans for your self. And get some good performing funds!!!
     
  3. anonymous

    anonymous Guest

    Good 401k investment selections. Comparable to other companies in the space.
     
  4. anonymous

    anonymous Guest

    Look at your next 401k statement and see how few people participate in it. Not many. Because it sucks and most can't afford to participate...sad
     
  5. anonymous

    anonymous Guest

    Employer Contributions

    The average company contribution in 401k plans is 2.7% of pay. Numerous formulas are used to determine company contributions. The most common type of fixed match, reported by 40% of employer's, is $.50 per $1.00 up to a specified percentage of pay (commonly 6%). Thirty-eight (38) percent of all plans match $1.00 per $1.00 up to a specified percentage of pay. Forty-three (43) percent of employees said the company match was the primary reason they participate in the plan.


    Applied Medical's company "match" is .5% of your pay! That is $250 per year if you make $50,000/year!
     
  6. anonymous

    anonymous Guest

    That sucks right? What is Said's spin on this POS plan. If he were smart he would match dallor to dollar up to 10% and make you vested at 3 years. He wouldn't have to match a dime bc no one stays that long.
     
  7. anonymous

    anonymous Guest

    Take a look at your investment statements for what Applied contributes. It's definitely not .5% of your pay!
     
  8. anonymous

    anonymous Guest


    Monthly thread refresher. This is still the reality.
     
  9. anonymous

    anonymous Guest

    You're wrong about this. Have you even looked at what they're contributing to your 401k? Maybe they're matching the peanuts you're contributing.
     
  10. anonymous

    anonymous Guest

    Finally someone has it on paper. So no more arguments on what/who is right vs. wrong since it is clearly documented.
     
  11. anonymous

    anonymous Guest

     
  12. anonymous

    anonymous Guest

    Did you like the email how they increased the match percentage but still capped it at $500. Applied Medical greatness!!!!
     
  13. anonymous

    anonymous Guest

    Unfortunately, most of the sales force is under 28 and many are not educated enough to understand 401k's and saving for retirement. Sure, they may put their money into the 401k, but Applied is essentially preying on the weak.....
     
  14. anonymous

    anonymous Guest

    Then don't put anything in you whinny pussy. Figure out how to save for yourself. The purpose of the company isn't to make your fucking life easier and save for your retirement. Why don't you get off your fucking ass and save it yourself.
     
  15. anonymous

    anonymous Guest

     
  16. anonymous

    anonymous Guest

    MANAGEMENT RESPONSE!!!!!!!!!!!! FUCK YOU
     
  17. anonymous

    anonymous Guest

    Read the original post you dumb-ass. It's about the intentionally misleading wording of the policy that is an example of why no one in this company feels like they can trust their employer.

    Now go stick your tongue back up Said's sphincter.
     
  18. anonymous

    anonymous Guest

    You deserve this place. This is one of the dumbest statements ever made.

    Excellent benefits is what applied is advertising in its 80+ sale positions available through out the country. FYI 99% of people consider a matching 401k standard not excellent. I'm so glad I'm leaving this shit show.
     
  19. anonymous

    anonymous Guest

    Excellent 2x match
     
  20. roar

    roar Guest

    Horseshit. The recently revised 401(k) policy says it's a 50% match to your contribution, not 2X (a.k.a. 200%) match. What's the sense in lying about something that contradicts a written policy that any potential candidate should ask to see before considering accepting a position, you dickhead?

    AND, it's only a 50% match to a ridiculous limit of your contribution maxing at 2% of your income. So let's say you make $100,000 and opt to contribute 8% to your 401(k). That would be $8,000, so Applied should contribute $4,000, right? WRONG!! So maybe their max contribution is 2% of your compensation - $2,000 - right? WRONG!! Their (deceptive) method is to reference 2% of your compensation, $2,000, as YOUR contribution that they give a 50% match against, so they put in $1,000. So their match is actually 12.5% of your contribution - 1% of your compensation.

    And for you ass-kissers with Said's spooj all over your faces, yes, $1,000 is better than nothing, but why imply that it's a true 50% match? Because Applied is all about deception, both to its employees and to its customers. Lie to recruits about how much they'll make and the benefits package to get them on board, and then treat them like they're not a team player if they question it after the truth is revealed. And lie to customers about the quality benefits of Applied products, then when they evaluate them and the shit hits the fan blame the local sales team for the failed evaluation.