Contributions
DB
Your
Contribution
Johnson & Johnson
Contributions
Non-DB (Optional)
Your
Contribution
Johnson & Johnson
Contributions
- Up to 1.75% if you participate in the Optional DB
- Up to 4% if you do not participate in the Optional DB
100% match:
- Up to 1.75% if you participate in the Optional DB
- Up to 4% if you do not participate in the Optional DB
(note that Johnson & Johnson contributions to your RRSP reduce the RRSP room you will have available)100% match:
- Up to 1.75% if you participate in the Optional DB
- Up to 4% if you do not participate in the Optional DB
(note that Johnson & Johnson contributions reduce the room you will have available for TFSA; no limit for Non-registered)50% match:
- Up to 1.75% if you participate in the Optional DB (max. 0.875% match)
- Up to 4% if you do not participate in the Optional DB (max. 2% match)
Mixing and matching contributions
The Company matches your contributions to the Non-DB options up to 1.75% if Optional DB is selected, or up to 4% if Optional DB is not selected. You can also choose to contribute more to meet your savings goals.
Example: you could contribute 4% to the RRSP, and an additional 4% to the TFSA. The Company will match your 4% RRSP contribution at 100%. There will be no Company match on your TFSA contributions, but you’ll benefit from additional savings and low investment management fees. The choice is yours!
Why is the maximum Company match different for each optional component?
The aggregate maximum amount that a member can have matched by Johnson & Johnson for Non-DB options is either 1.75% if Optional DB is selected or 4% if Optional DB is not selected. How much Johnson & Johnson matches also depends on your selection of Non-DB options (i.e., DC, RRSP, OAC, TFSA or Non-registered) — as shown in the table above. The Company match is higher for DC, RRSP and OAC since the Company wants to encourage you to save for the long-term.
