Do you get profit sharing at work?

[Omaha Steve]

Poll question: Do you get profit sharing at work?

30 years ago things like pensions and profit sharing were normal. Times have changed. Sound off.

[dkf]

1. Is that a 401k match?

[Omaha Steve]

4. Can be

But profit sharing is a certain percentage (up to 15% by law I believe) that gets set aside for eligible employees to share. That is not the same as a defined percentage match to a 401K. In other words if the company looses money there would be no match with profit sharing. But a company can still contribute to a 401K that looses money if it is not profit sharing. Clear as mud?

I last had profit sharing when I was in the private sector in 97.

[dkf]

6. We have a 401k with a match and in good years a percent or two for profit sharing.

[brewens]

2. Yes. I work for a not for profit blood center. We get it as a contribution

to our 403b plan.

[kestrel91316]

3. No. I just get bills. And migraines. And cat bites. What are profits??

:rofl:

[rexcat]

5. Yes with qualifications...

I am self-employed, incorporated and have a defined benefits program that includes a profit sharing component and money purchase plan. Since I am the only employee of the "corporation" all proceeds go to me which includes pay and pension plan. On the other side of the coin I am also responsible for all bills including taxes on both sides (corporate and personal taxes). I get to pay my federal, state and municipal taxes monthly. I also pay a CPA to do the books for the business. Being incorporated and the line of business I am in is a complex thing to manage.

[Lisa0825]

7. I work for a not for profit teaching hospital, so no profit sharing, but we do get team bonuses. nt

[stevedeshazer]

8. Yes, but

It doesn't amount to much.

[Modern_Matthew]

9. Lol, yeah... but if any customers have accidents... it comes out of our bonus...

But the store manager and above lose nothing.

[Throd]

10. Self employed. My boss is a dick, but profit sharing is 100%

[Omaha Steve]

11. What does your boss get on "Bosses Day"?