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This interpretation of 401k match language would make DBG very proud (pic)
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Poast new message in this thread
Date: April 24th, 2024 9:04 PM Author: Obsidian Arrogant Personal Credit Line Area https://pbs.twimg.com/media/GL7ixUpW8AANjEb?format=jpg&name=large (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607905) |
Date: April 24th, 2024 9:05 PM Author: Frozen lodge Smart! (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607907) |
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Date: April 24th, 2024 9:07 PM Author: vibrant police squad dilemma (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607908) |
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Date: April 24th, 2024 9:09 PM Author: Vigorous Locus Old Irish Cottage lmao (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607911) |
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Date: April 24th, 2024 9:10 PM Author: supple chrome address trump supporter lmao (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607912) |
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Date: April 24th, 2024 9:10 PM Author: Cerebral swollen really tough guy (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607913) |
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Date: April 24th, 2024 9:11 PM Author: Aphrodisiac clear public bath juggernaut (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607920) |
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Date: April 24th, 2024 9:14 PM Author: glittery deep fat ankles I don't see any other interpretation (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607929) |
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Date: April 24th, 2024 9:57 PM Author: Vermilion gaming laptop cr. OP is retarded for poasting this (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607970) |
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Date: April 25th, 2024 4:36 PM Author: grizzly school (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47609654) |
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Date: April 24th, 2024 9:15 PM Author: Obsidian Arrogant Personal Credit Line Area (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607934) |
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Date: April 24th, 2024 10:02 PM Author: Offensive indecent ratface box office With a 5 year vesting schedule (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607978) |
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Date: April 24th, 2024 10:04 PM Author: ruby hunting ground heaven 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: Talented iridescent cuckold 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: ruby hunting ground heaven 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: Flesh home (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47608025) |
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Date: April 24th, 2024 10:29 PM Author: glittery deep fat ankles 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: razzle-dazzle chocolate property One weird trick. (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47608080) |
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Date: April 24th, 2024 10:44 PM Author: ruby hunting ground heaven 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: glittery deep fat ankles 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...id#47608170) |
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Date: April 25th, 2024 12:20 AM Author: Chartreuse Potus 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: glittery deep fat ankles 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...id#47608268) |
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Date: April 24th, 2024 10:30 PM Author: Adventurous mauve rigpig candlestick maker (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47608066) |
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Date: April 25th, 2024 4:37 PM Author: grizzly school How dumb are you, bro? The sentence only has one reasonable meaning. (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47609658) |
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Date: April 24th, 2024 10:05 PM Author: Talented iridescent cuckold lmao (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47607991) |
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Date: April 24th, 2024 11:38 PM Author: umber crackhouse national security agency 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...id#47608200) |
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Date: April 24th, 2024 11:53 PM Author: Topaz Idiotic Shrine 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: Sable Death Wish (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47608224) |
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Date: April 25th, 2024 12:00 AM Author: ruby hunting ground heaven 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: ruby hunting ground heaven 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: glittery deep fat ankles 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...id#47608244) |
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Date: April 25th, 2024 12:37 PM Author: ruby hunting ground heaven 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...id#47608842) |
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Date: April 25th, 2024 12:40 PM Author: glittery deep fat ankles 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...id#47608846) |
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Date: April 25th, 2024 8:54 PM Author: ruby hunting ground heaven 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: slimy base 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: Low-t Domesticated Locale Lmao
“And be grateful you get that much!” |
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Date: April 25th, 2024 1:48 PM Author: soul-stirring mint main people institution hilarious (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47608959) |
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Date: April 25th, 2024 2:04 PM Author: sick brilliant genital piercing “Enjoy!” (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47609039) |
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Date: April 25th, 2024 2:13 PM Author: Flesh home (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47609079) |
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Date: April 25th, 2024 2:07 PM Author: razzmatazz bespoke ceo crotch lol (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47609055) |
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Date: April 25th, 2024 4:39 PM Author: grizzly school , after a 15 percent gratuity deduction. (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47609665) |
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Date: April 25th, 2024 7:44 PM Author: Obsidian Arrogant Personal Credit Line Area (http://www.autoadmit.com/thread.php?thread_id=5521232&forum_id=2...id#47610076) |
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Date: April 25th, 2024 8:16 PM Author: Avocado Theater Stage "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...id#47610118) |