- RighteousTyrant
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- Exalted Mythic Member
Hi I'm RT and I like to argue!
Posted by: Specter Wolf
Also I'm now curious as to just how generous Bungie is with their 401k matching.There is some 401k info that is publicly available that doesn't quite answer that question but does provide some insight.
For 2009 (most recent year available), Bungie's contribution (read: their match) was 72% of their employees' contributions, but having a ratio like that isn't meaningful because a lot of employees will only contribute up to what their employer will match, which causes that ratio to tend to 1:1 (assuming that the employer matches dollar-for-dollar up to a point, which is common and appears to be what Bungie does from their ratio).
The total employee contribution was about $1.13 million for 167 employees (average), which makes an average contribution of $6,766. That seems about average to me for a company like Bungie (read: skilled profession with good pay).
I'd like to tell you how they did in terms of investment return rate, but because the plan was new and growing very rapidly that calculation isn't very accurate. When I say growing rapidly, I mean the plan nearly tripled in size in 2008, despite the terrible market, and doubled in size during 2009, largely due to employees bringing over existing savings, I'd guess from whatever plan Bungie participated in when they were part of Microsoft.