[quote=Essbee][quote=AN]Maybe math have changed over the years but 6% match is not 60% contribution. is 6%=60% now?[/quote]
After 20 yrs, if the employee contributes 3% of salary, the employer (Scripps) contributes 6% of salary.
So 33% of the contribution comes from the employee, and 67% comes from Scripps.
Of course, the employee should probably try to save much more (~20% of income.) My guess is that Scripps’ contribution would stay at 6%.[/quote]
Thank you Essbee. You beat me to the punch 🙂
You are correct in that the employer contribution is based upon years of service and stays the same until the employee reaches another seniority tier. 6% is the maximum employer contribution.
This could be prove to be a sizable sum for physicians directly employed by Scripps and Sharp.
