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HrdWrkr created a topic in 401(k) Plans
"My employer is stating that since I am enrolled in the company 401k program with a company 3% match, that they do not have to give me any of the $14.00 an hour pension fringe benefit when working on prevailing wage jobs. The only way they will give me that $14 hour is if I defer to enroll in the 401k program then they will add that amount on to my paychecks. Example- my coworker deferred to enroll in the 401k program and is
paid $44 an hour on prevailing wage jobs but has no money contributed to a retirement account, whereas I am enrolled in the 401k program so I am paid $30 an hour on the same job, then 3% of my check goes into my retirement account and my employer matches that. Is this the correct way that this works? They do not have to give me any of the pension fringe benefit if they are doing a company match?"
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