Compare their Employee Investment Plan (our TCP2 "equivalent"). No Ben Val study required in Idaho, I guess.
INL Employee Investment Plan
The INL Employee Investment Plan offers the opportunity to participate in a 401(k) savings plan with several diverse funds. This plan is administered by The Vanguard Group. An eligible employee hired on or after Feb. 1, 2005, receives an INL profit-sharing contribution equal to 4.2% of his/her annual base pay. These contributions are 100% vested after three years of service and require no employee contribution. In addition, up to 6% of an employee's contributions to the plan are matched by INL. The Laboratory matches dollar-for-dollar on the first 3% of base pay contributed by the employee, then $0.60 for each dollar contributed on the next 3% of base pay, for a maximum match of 4.8% of base pay. Employees are 100% vested in their contributions and the INL matching amount on those contributions
3 comments:
INEL offers significantly less than LLNL. First, you must live in the intermountain desert region of Idaho. Second, both the profit sharing and 401k match rates are less. Third, their leave is for vacation and sick leave so they get about 12 days less leave per year. No one who gets an offer from LLNL will choose INEL unless the rate of pay is higher and they like isolation.
Sandia on the other hand is a significantly superior competitor. They match 401k contributions to 6% and have a defined benefit pension plan. Their vacation accrual rates are the same, but they get 8 days of personal leave days on top of a very generous sick leave policy from day one. Superior to LLNL for only a trip across East Avenue.
Sandia should win most head-to-head recruiting shootouts.
Stanford offers child care reimbursement and staff and childrens college tuition subsidies (nice to work for a real University), with comparable vacation. Savings contributions roughly follow current TCP2 contributions.
LBL still offers the UC plan, defined benefits, 401k and 457b without reimbursement. Same vacation and sick leave plans, much better views and budget restruants. Probably less job security...
SAIC's website was not very specific, must not have "best practice" benefits to brag about.
hello January 4, 2008 11:11 PM!
Thanks for your research; what I wanted to highlight was the profit sharing of INL.
If you have no passion left for your work or your workplace, why bother comparing notes on benefits? Life is too short to waste working at a place that you hate. The stress alone will take several years off of your life. Each of those years are precious and irreplaceable.
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