My organization just got absorbed by a larger organization and we have the option of keeping our benefits the same or changing them. Under the old system, we had both a 401k and a defined benefit portion. Employer contributes 4% and employee contributes 5% to the defined benefit. Employer also contributes 5% to the 401k, plus a $50 match. The 401k is immediately vested. The defined benefit is vested after 5 years. I still have 2.5 years until its vested.
The new defined benefit is 100% vested immediately. I have to choose between VALIC, VOYA, and TIAACref. I contribute 5% and the employer contributes 9%. I still keep my 401k mentioned in the previous plan, but the employer contribution goes down to 2%
Which plan should I go with? It seems like the old one would just continue to gain interest at a steady pace, where the new one is basically like a second 401k, market driven. If I go with the new plan, which of the three companies should I go with?
Info: late 20s, married.
Submitted August 14, 2018 at 11:41PM by lazrbeam https://ift.tt/2P8vYZI
