So today I learned that my employer has a Japanese-401k plan. This is interesting and quite nice.
So here's the deal, the company puts in an amount equal to 10% of your gross (up to a limit of 1.65mm yen or about $14k). But unlike 401k, the company pays the whole thing, it doesn't come out of your gross! Wow, its like a 10% virtual raise just like that. Life is looking good.
I do have to stay 3yrs to get the enchilada, but right now I have no intention of quitting, although I could get laid off, fired, or times could turn ugly for me, who knows. The other bad part is that 75% of the funds wind up in a cash-money market account. You can only invest part of it into funds/equities. So its a non-high growth cash contribution for the most part, whatever its free safe money.
What is retarded is that this is a big deal for me anyways, as I am very retirement/cash conscious and if I knew this when they gave me a job offer it would have solidified my desire to move. I had bad feelings of not being able to contribute to 401k when I left the USA, etc.. How lame that recruiting doesn't promote their benefits very well. I wonder if the other banks had the same program ? I think so....
Don't worry about money kids. Long as you can keep making some the rest is easy.
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