Employer contributions to DC plan

[Ndiddy]

What is a good employer contribution to a DC plan? Looking at possibility of moving companies and trying to suss out what is a good %. Salaries seem to be higher ( grass being greener...) but trying to look at the total package of what's on offer.

Not on a high salary or management so don't expect extras like bonuses or company cars, etc.

My current company pays 12% of salary to DC plan for us, previous company paid 15%. This seems good to me but I think they have to as so many legacy employees get a solid DB pension plan.

What do others get from their employers?

Thanks

 

[huskerdu]

Plenty of companies pay 4%

 

[EmmDee]

I suspect it varies by industry to some extent.

I'm with a bank - they contribute a flat 6% irrespective of employee contribution. They then match employee contribution up to another 6%. There is also a long service element; after 15 years service, the matching component goes up (possibly to 12% I think)

So if an employee does nothing they get 6%. If they max the matching the contribution is 18%. After 15 years the max matching brings it to 30%

 

[LDFerguson]

The IAPF carried out a survey about 5 years ago and found that the average employer contribution rate was 5.7%. See https://www.iapf.ie/News/PressRelea...major survey of 6,430,of 5.7% coming from the

 

[fidelcastro]

15pc DC contribution plus match 2pc AVC to encourage participation. Tech sector

 

[Laughahalla]

Tech sector up to 7% depending on your contribution. It was 5% up to a couple if years ago.

 

[Cloudd]

I'm in the enterprise tech space too and they do 8% once the employee puts in 2% themselves. We can then control our own AVC's after that.

 

[MugsGame]

My current employer contributes up to 10%, based on a sliding scale multiplier on my contribution.

To get 10% I have to contribute 7%.

All percentages are on base salary only; bonuses don't count - I assume that's standard.