I need this explained please...matching contributions for retirement and saving plan?

  • Thread starter Thread starter shoesan
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shoesan

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"The Convergys Match: As a special incentive for you to save in the Plan, after one year of service, the company makes
matching contributions to your account with Convergys stock based on the following formula: 100% of each beforetax
dollar contributed up to three percent of pay per pay period, plus 50% of the next two percent of pay
contributed per pay period."


Please give an example with numbers. HR is not available today and I was just reading the benefits and I need it explained. Thanks!
 
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