this post was submitted on 27 Nov 2023
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Work Reform

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[–] MeatRobot@lemmy.world 8 points 11 months ago* (last edited 11 months ago) (1 children)

It's a straight up contribution. For every dollar paid in wages, the company also contributes ten cents to the employees 401k. No employee contributions are required.

[–] princessnorah@lemmy.blahaj.zone 3 points 11 months ago (1 children)

This is kind of wild to me. In Australia we have a similar thing called Superannuation. Everyone is entitled to 11% from their employer, going up to 12% by the 1 July 2025. Unions bargain for agreements with extra contributions on top of that base percentage.

[–] Asafum@feddit.nl 2 points 11 months ago

"Everyone is entitled to 11% from their employer"

That sounds an awful lot like a socialism and from what I've been told just doing a socialism once will bring a dictator to your door who will genocide your entire population.

F's in chat for Norah. :(