I apologize in advance if this reply comes out looking horrible; this is my first time using the forum.
I am a former Charter employee. They used to match your 401k at 50% up to 5%<they would contribute 2.5% maximum> The last year they owned us, they changed their matching policy to their "annual discretionary performance contribution" where they would not match until the end of the year. Depending on how they did, they would decide on how much to match. Luckily for all of the techs in my area, They sold us before Dec. 31st, therefore were not eligible for the annual match. Personally, I feel that the TWC benefits are much better than what I had at Charter.
I found this directly on the charter websitehttps://www.charter.com/browse/content/browse-careers#
under benefits then core benefits I found this"Core Benefits
Whenever benefits are discussed, most people will automatically think of "core benefits". While much time is spent explaining 401(k) retirement savings and healthcare programs, it is important to understand all the benefits provided under Charter's Core offering.The key principles of the Core Benefits package are:
- Protect: To protect you and your family from the unforeseen hardships associated with illness, disability or death, and
- Prevent: To provide you proactive and preventive programs and services at little to no cost in order to avoid problems or hardships.
- Provide: Charter leverages our size and our status as an employer to provide benefits programs that employees cannot typically obtain on their own.
- Charter Broadband Complimentary Services: Employees who live in a Charter service area receive complimentary Video, High Speed Internet and Telephone.
- Holidays: Charter employees receive 6 paid holidays and 4 floating holidays per year.
- Vacation: Employees accrue vacation on a pay period basis. Employees who are eligible for 2 weeks of vacation per year may accrue up to 80 hours per year with the ability to carry over vacation hours into the next calendar year. The vacation accrual maximum is 120 hours. Beginning the 5th year of employment, employees accrue 3 weeks of vacation with a vacation accrual maximum of 160 hours. Beginning the 10th year of employment, employees accrue 4 weeks of vacation with a vacation accrual maximum of 160 hours.
- Sick Leave: Employees accumulate 1.85 hours of sick leave per pay period. Sick leave may be used for yourself or for care of a sick family member.
- Leave of Absence: Under extenuating circumstances, employees may take up to 60 days of personal leave, or after one year's service under the Family Medical Leave Act (FMLA) up to 12 weeks, to care for you, new family members or family members who are sick and need assistance.
- Bereavement: All active full-time and part-time employees may be granted up to three days off with a maximum of eight hours per day, with pay, to attend the funeral of certain family members.
- Jury Leave: Charter continues to pay employees regular wages for up to two weeks of jury duty each year.
- Business Travel Accident (BTA) Insurance: Charter provides an accidental disability or death benefit if incurred while traveling on company business.
- Workers' Compensation: Workers' Compensation state laws provide replacement income and medical benefits if you become ill or injured as a result of your job and the illness or injury qualifies for benefits based on your state's laws.
- Medical: Charter provides medical coverage that can pay a significant percentage of you and your enrolled family member's medical expenses. Preventive services are covered at 100%. Most employees have 2 options to choose from.
- Vision: Vision benefits are included when you enroll in a Charter medical plan. The benefit offers a low co-payment on eye exams and allowances for contacts and eyeglass frames and lenses. Preventive services are covered at 100%.
- Dental: Charter employees can elect to enroll for dental coverage. Preventive services are covered at 100%. Most employees have 2 options to choose from.
- Flexible Spending Accounts: Charter employees may elect to set aside money on a pre-tax basis for eligible healthcare and dependent care expenses that aren't paid by other insurance.
- Short Term Disability: Up to 180 days for both sickness and injury.
- Long Term Disability: Maximum period of payment depends on age when disabled.
- Employee Life and Accidental Death and Dismemberment Insurance: Charter pays for one time your base annual earnings rounded to the next highest $1,000 in coverage to a maximum of $1,000,000.
- 401(k): Employees who have invested 1 month of service with Charter are eligible for the company's 401(k) plan. Employees may elect to save up to 50% of Plan compensation pre-tax in a variety of investment options. The company offers participants an annual discretionary performance contribution. "
Can anyone currently employed by Charter enlighten us on how the 401k "annual discretionary performance contribution" is working out for them? I'd like to know how it compares to TWC's 2/3 match up to your 10% contribution <6.66% maximum contributed by the company>
