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This interpretation of 401k match language would make DBG very proud (pic)
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Date: April 24th, 2024 9:04 PM Author: laughsome rigor voyeur https://pbs.twimg.com/media/GL7ixUpW8AANjEb?format=jpg&name=large (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607905) |
Date: April 24th, 2024 9:05 PM Author: Jet stage corn cake Smart! (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607907) |
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Date: April 24th, 2024 9:07 PM Author: Offensive Fanboi (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607908) |
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Date: April 24th, 2024 9:09 PM Author: Hairraiser umber trailer park friendly grandma lmao (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607911) |
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Date: April 24th, 2024 9:10 PM Author: cowardly business firm wrinkle lmao (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607912) |
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Date: April 24th, 2024 9:10 PM Author: pink house-broken base (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607913) |
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Date: April 24th, 2024 9:11 PM Author: Shivering floppy forum clown (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607920) |
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Date: April 24th, 2024 9:14 PM Author: yellow pit I don't see any other interpretation (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607929) |
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Date: April 24th, 2024 9:57 PM Author: Ebony sweet tailpipe fortuitous meteor cr. OP is retarded for poasting this (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607970) |
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Date: April 25th, 2024 4:36 PM Author: Shimmering Space (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47609654) |
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Date: April 24th, 2024 9:15 PM Author: laughsome rigor voyeur (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607934) |
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Date: April 24th, 2024 10:02 PM Author: razzle tanning salon With a 5 year vesting schedule (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607978) |
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Date: April 24th, 2024 10:04 PM Author: Wine impertinent potus How much is their HR team freaking out right now?
I'd think plausibly they facing a lawsuit where they probably owe 3% of everyone's wages for a few years? |
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Date: April 24th, 2024 10:07 PM Author: Iridescent Whorehouse Tank the hr team? not at all the innumerate and/or illiterate shitlawyer and union reps who negotiated a “match” of 3% of the first 6% for their clients, otoh… |
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Date: April 24th, 2024 10:10 PM Author: Wine impertinent potus I think its at best a scriveners error and at worse fraud.
I really doubt a judge is going to go "Yeah it was totally chill for the company to mimic standard language but twist it to only pay people 1/20th what a reasonable worker would assume based on industry standards without fully disclosing the diffference." |
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Date: April 24th, 2024 10:19 PM Author: Arousing philosopher-king knife (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608025) |
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Date: April 24th, 2024 10:29 PM Author: yellow pit Does a typical CBA have an integration clause and mutual drafting clause? If so, why would a judge do anything but look at what it says?
Do we have a labor lawyer in the house? |
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Date: April 24th, 2024 10:33 PM Author: Ocher address milk One weird trick. (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608080) |
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Date: April 24th, 2024 10:44 PM Author: Wine impertinent potus Why would you need a labor attorney?
99.9% of companies offer something similar to a 50% match of an employees contributions up to 6% of their salary. They're clearly using an industry term and there was an error in drafting.
If this was truly their intent, and the company's attorney wasn't a full blown moron, then the next line has to say "By way of example, if an an employee makes $100,000 and contributes $6,000 to their 401k, employer will contribute $180.00 to the 401k. |
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Date: April 24th, 2024 11:09 PM Author: yellow pit What difference does it make what industry standard terms are? Parties aren't required to used industry standard terms. The language quoted by the Redditor is perfectly intelligible, and it doesn't provide for a match capped based on compensation. (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608170) |
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Date: April 25th, 2024 12:20 AM Author: Apoplectic Burgundy Deer Antler Theater it's not the indemnity section of a purchase agreement reviewed separately by 30 different lawyers. it doesn't benefit society to have employees look out for gotcha language in 99% boilerplate 401k agreements that they sign during orientation
ski resort sneaks in "we have the right to fuck your wife at any time" in 6 font in the waiver |
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Date: April 25th, 2024 12:34 AM Author: yellow pit It's a CBA. It was negotiated by the union, not just imposed on the employees (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608268) |
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Date: April 24th, 2024 10:30 PM Author: internet-worthy cruise ship (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608066) |
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Date: April 25th, 2024 4:37 PM Author: Shimmering Space How dumb are you, bro? The sentence only has one reasonable meaning. (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47609658) |
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Date: April 24th, 2024 10:05 PM Author: Iridescent Whorehouse Tank lmao (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47607991) |
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Date: April 24th, 2024 11:38 PM Author: bonkers mental disorder meetinghouse i can't read this in a way that makes the company's version true. (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608200) |
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Date: April 24th, 2024 11:53 PM Author: spectacular son of senegal employee contribution - $79.30 the "first 6%" of that contribution - $4.76 company matches 50% of that 6% - $2.38 |
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Date: April 24th, 2024 11:57 PM Author: infuriating toilet seat (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608224) |
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Date: April 25th, 2024 12:00 AM Author: Wine impertinent potus See below.
Your math renders the entire formula moot.
It'd be like if you wrote a contract saying, "Buyer will be able to achieve an earnout equal to 1/2 times 1/4 divided by 6 times 11 multiplied by the 2026 revenue."
Why would you write it so stupidly? |
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Date: April 24th, 2024 11:55 PM Author: Wine impertinent potus Yeah - if we're pretending to be a law board - there's no logical reason to phrase it that they'll match 50% of the first 6% of your contributions - it's a pretty nonsensical structure. Why not just say they'll match the first 3% of the actual money you put into your account?
There's no logical reason to have the 50% of the 6% if they both refer to contributions...
It's clearly ambiguous and you look to what this phrasing means within the industry and its obvious that the intent is that they'll match 50% of your contributions up to 6% of your salary. |
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Date: April 25th, 2024 12:10 AM Author: yellow pit It's not at all ambiguous. It clearly means 3% of the amount contributed (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608244) |
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Date: April 25th, 2024 12:37 PM Author: Wine impertinent potus Then why did they not write 3% instead of saying 50% of 6%? (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608842) |
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Date: April 25th, 2024 12:40 PM Author: yellow pit What difference does it make? Contractual language isn't rendered ambiguous simply on account of there being a clearer and more succinct way to express the same meaning. (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608846) |
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Date: April 25th, 2024 8:54 PM Author: Wine impertinent potus Because your reading of it relies on the contract being drafted with multiple fraction as a math equation, which probably 0.00001% of all contracts in history have been drafted with such stupidity, and my interpretation aligns it with probably 30-60% of all similar 401k match programs.
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Date: April 25th, 2024 12:50 PM Author: aromatic nubile factory reset button Subject: and then one day, for no reason at all because good kikesmanship requires plausibly deniable deceit
normies will read that as 3% of your compensation (or 50% of your contribution), not 3% "on the first 6% of [your] contributions.", i.e., 3% of 0.06*paycheck. In other words, it's tricky wording to masquerade the order of operations. Half of 6% applied to your (((contribution))), rather than half of 6% applied to your compensation. |
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Date: April 25th, 2024 12:45 PM Author: Sable chapel Lmao
“And be grateful you get that much!” |
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Date: April 25th, 2024 1:48 PM Author: Ruby marvelous university death wish hilarious (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47608959) |
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Date: April 25th, 2024 2:04 PM Author: frisky property “Enjoy!” (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47609039) |
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Date: April 25th, 2024 2:13 PM Author: Arousing philosopher-king knife (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47609079) |
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Date: April 25th, 2024 2:07 PM Author: multi-colored school cafeteria lol (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47609055) |
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Date: April 25th, 2024 4:39 PM Author: Shimmering Space , after a 15 percent gratuity deduction. (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47609665) |
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Date: April 25th, 2024 7:44 PM Author: laughsome rigor voyeur (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47610076) |
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Date: April 25th, 2024 8:16 PM Author: mint passionate goal in life "First" 6% is nonsensical; it's probably language that was redrafted multiple times and they fucked up (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2#47610118) |