blue origin 401k match

Anyone has insights on Blue Origin? By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Blue was a bit frustrating because they spent so many years just experimenting and didnt have well documented procedures. The difference lays in what they want to do after, how they are getting there and how much progress has actually been made. There are definitely a few of those around here. Structural analyst 3 Base: 150k Equity: 48k options Sign on: 5k Tc: 163,250/ 4years Yoe: 5 Is there room for negotiation? Many employers match employee contributions. They are also currently paying for my Software Engineering degree, and their 401k matches up to 8%. Society for Human Resource Management. Although employer contributions don't count toward your annual contribution limits, they are combined employee-employer contributions are capped each year. Can anyone share how many stocks that people usually get for SWE L4 position? Some companies offer really generous 401(k) matches while others don't match their employees' contributions at all. Former ERT Emergency Response Technician in nullnull, Current Technical Project Manager III in nullnull, Current Laser Weld Technician in nullnull, Current Propulsion Engineer in Kent, WA, Washington State, Current Production Control in Kent, WA, Washington State. Good or bad? And also what the work culture is like, as in is just more of the besos bs or something unique and wonderful?! With great options like the Roth IRA (our favorite! Can You Have a 401(k) Without an Employer Match? Currently, the 401(k) component features a match on the first 5% of employee contributions. To visualize how your savings will grow, use our, If youre not sure which investment options you should use to build your 401(k) portfolio, use our. With more than $60 billion in net plan assets, The Boeing Company 401(k) plan stands out as one of the largest plans in the country. I'm mainly concerned given that I'll be 3 hours ahead of most of my colleagues and have an infant to help take care of. Florida is home to New Glenn manufacturing and support facilities. Still, BrightScope highlighted the plan for having among the lowest fees in its study and a great participation rate. how does blue origin comp compare to fang? Traditionally, it has short sleeves and a round neckline, known as a crew neck, which lacks a collar. Currently making roughly $47k/yr. Some401(k) plansoffer far more generous matches than others. For some more clarification on what is personally making this choice hard for me; Ive been at Boeing for 4 years, I started right out of high school. I've done plenty of government/defense work before that, as well. Beyond that, there's not one person in the group that is difficult to get along with, disruptive, etc. Under this formula, you must contribute twice as much to your retirement to reap the full benefit of employer matching. Im looking for some helpful information to help guide my decision in a potential career change. We're committed to building a road to space so our children can build the future. This means all money in the plan, including employer contributions, belongs to the employees as long as theyre in the plan. But even if you don't have a 401(k) option or if your plan doesn't include an employer match, don't panic! Benefits information above is provided anonymously by current and former Blue Origin employees, and may include a summary provided by the employer. Blue Origin has also snagged a . Annual Limits on 401(k) Deferrals and Matching, Employee Savings Plan (ESP) Definition, Types, Tax Benefits, What Is Retirement Planning? New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. "401(k) Plan Overview. Glassdoor is your resource for information about the 401K Plan benefits at Blue Origin. Most 401(k) plans offer investors a variety of investment options. Can I Fund a Roth IRA and Contribute to My Employers Retirement Plan? Bezos and his brother will be among the first passengers his Blue Origin space company takes into space, the beginning of what Blue Origin hopes is a lucrative space tourism business. Relocation Whats more, to encourage participation, matching contributions increase, percentage-wise, as employees up their contributions. A consideration you might have us mobility to software engineering within each company, essentially replacing internship elsewhere and even being permanent. "Traditional IRAs. According to SHRM, a survey conducted by XPertHR showed that roughly 82% of employers studied matched a portion of their employees' contributions while the remaining 18% didn't provide any matches at all. "Retirement Topics -- Vesting. Occasionally, employers may elect to match employee contributions up to a certain dollar amount, regardless of employee compensation. Learn about Blue Origin , including insurance benefits, retirement benefits, and vacation policy. These are mutual funds that are structured to grow assets over a period of time. More. Plus, the firm offers an array of other benefits outside the 401(k) plan. I am brutally aware of process both within NASA and, by association, what we observed in Boeing. Employee health It represents freedom, exploration, mobility and progress. - Watch out for 401 (k) waiting periods. 4. 4 weeks PTO, Blue Cross Blue Shield health, delta dental, HSA options. 3. This compensation may impact how and where listings appear. A vesting schedule dictates the degree of ownership you have in employer contributions based on the number of years of your employment. An additional voluntary contribution is a payment to a retirement savings account that exceeds the amount that the employer pays as a match. Additionally, at least in my area and those I'm aware of, the work life balance is exceptional. Paid Time Off Blue Origin recognizes most federal holidays, and employees can accrue up to four weeks of PTO per year. thanks! Provides up to 4 weeks per year, in addition to 14 holidays. What your skills are worth in the job market is constantly changing. 401(k) Limit Increases to $22,500 for 2023, IRA Limit Rises to $6,500., Internal Revenue Service. In addition, the firm built its investment menu with more than 200 proprietary mutual funds and options from other firms. Weight: .73 ounces Closure Type: Flap Package Quantity: 100 Material: Paper . Vesting schedules the length of time you must be at an employer for its 401 (k) matching contributions to be 100% yours can be up to six years. In addition, Verizon provides an annual profit-sharing award worth up to 3% of eligible play. #tech #blueorigin, I have an on site interview with Blue Origin. It was not impossible to do my job at Blue, just a bit of relearning to forget what I knew and learn what I didnt. ", Internal Revenue Service. Plus, the company throws in a bonus 7% match on eligible compensation. If you don't take it up, you'll be passing up free money. If you are born in 1955 or 1956, it is 66 and 2 months or 66 and 4 months respectively. ", Internal Revenue Service. Along with buying and selling energy commodities at the wholesale level . An important point to note is that your employer's contributions (if they make any toward your plan) don't count toward these limits. We encourage diversity in employment across race, color, religion, national origin, age, sex, physical or mental disability, gender identity, and sexual orientation. A highly compensated employee (HCE) owns at least 5% of the company and earns more than the federal predetermined compensation limit. good retirement plan options, average company match. Jim has run his own advisory firm and taught courses on financial planning at DePaul University and William Rainey Harper Community College. Investment Company Institute. Blue Origin's engines are powering the next generation of rockets for commercial, civil, national security and human spaceflight. Its 401 (k) plan provides employees with both a match and GM retirement contributions. Sponsors of large plans typically have the added benefit of being able to negotiate better fees and services from their providers. How was your ride, and would you recommend it? Getting in today pre revenue means any stock you get now will be substantially more valuable once they start flying and bringing in regular income. Vanguard. This is not a sweat factory that hires enthusiastic, talented, young people, then chews them up and spits them out. What Are the Roth 401(k) Withdrawal Rules? Yes. FB TC ~$300K in the Ba. As with any choices related to your retirement, talk to a financial advisor who wont make money depending on the fund for which you sign up. To maximize this benefit, you must also contribute $1,800. Create an account to follow your favorite communities and start taking part in conversations. Employer 401 match programs usually incorporate two figures when calculating a total possible match contribution: a percentage of the employees own contribution and a percentage of the employees salary. Has anyone here ever gotten an offer from Blue Origin? The IRS requires that all 401(k) plans take a nondiscrimination test annually to ensure that highly compensated employees dont benefit more from tax-deferredcontributions. All of this is good to know. In addition, the firm automatically enrolls eligible employees into the plan and makes them 100% vested. Introducing Orbital Reef. I am currently on the East coast but have been told that teleworking will be fine for at least a year. An employee savings plan (ESP) is an employer-sponsored tax-deferred account, funded with contributions and typically used to save for retirement. How Much Should I Contribute to My 401(k)? For each dollar you save in your 401 (k), your employer wholly or partially matches your contribution, up to a. Physical . Blue Origin - waste of time -Suggested to interview by recruiter on LinkedIn -Applied to T4 position that was suggested -went through 3 separate phone calls for this t4 position -spent 4 hours presenting and panel interview Everything went really well. Employees also have more than two dozen investment options including low-cost index funds with which to build their 401(k) portfolios. If your employer matches a certain dollar amount, as in the first example, you must contribute that amount to maximize benefits, regardless of what percentage of your annual income it may represent. The amount of retirement benefits you earned vary based on. Photo credit: iStock.com/AndreyPopov, iStock.com/evgenyatamanenko. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). How Much Should I Contribute to My 401(k)? The South Denver location supports Blue Origin's launch vehicle, space systems programs and engineering, and mission design. Part of the Fidelity National Financial Groups business involves advising some of the largest retirement plans in the country. You have access to, and are welcome to learn about, just about every single thing the company is working on. Brightscope gave the plan, which offers more than 20 investment options, including funds from leading firms like Vanguard and BlackRock, an 89/100 score. Current and former employees report that Blue Origin provides the following benefits. But ExxonMobil seems in good shape as it plans to energize its U.S. pension plan with $1 billion by the end of 2019. The . How much longer to complete your software degree and will you have to work a certain number of years after graduating? We were all about checking boxes in a process and far less about the quality of the product. 401k employer match rules. An elective-deferral contribution is a contribution an employee elects to transfer from his or her pay into an employer-sponsored retirement plan. Generous company 401(k) matches are great. How It Works and What's the Average, 401(k) Contribution Limits for 2022 vs. 2023. Meaning theres no guarantee how much I could be making within 2 years at Blue. Orbital Reef will be the premier mixed-use space station in low Earth orbit. Any amount over $285,000 cannot factor in to the bonus calculation. A 403(b) plan is a tax-advantaged retirement savings plan for teachers, nurses, and other employees of nonprofits and government agencies. My YO, First week at Blue but this is what Ive noticed for propulsion engineers Level 2: 2yoe - 5yoe+PhD Level 3: 6yoe - 12yoe+PhD I cant imagine someone with a PhD and a few yoe coming in at anything less than a sr engineer but Ive noticed thats definitely not the case. And the corporation takes advantage of that size. What are peoples thoughts on the people, culture, opportunity for advancement , and work life balance at Blue Origin? Working individuals were given an opportunity to avoid paying taxes on deferred compensation, such as bonuses or stock options. It would often take weeks to fix things that were undeniably broken - even just one or two line changes. Strategies to Maximize Your 401(k) and Top Tips, 401(k) Loans: Reasons to Borrow, Plus Rules and Regulations. It is. As of 2019, these plans listed below were found based on numerous factors, such as company match frameworks, total assets under management (AUM) and additional benefits such as access to a bonus pension plan or especially low fees. Chevron allows you to contribute up to 75% of regular pay as combined basic and supplemental contributions in any one pay period. The information provided is from their perspective. So if you contribute $100 to your 401(k), your company will contribute $50. Although the maximum amount the company could pay the employee is the same with each of those plans, under the most common option the employee has to contribute more to get the maximum company match. This means if the company caps equal matches at 2%, its contributions can't exceed 2% of your salary. I was no longer bogged down by process or forced to use outdated practices/technologies. Some of the most common investment types include company stock, securities (such as stocks, bonds, and other related assets), or even annuities. If your 401(k) match and plan seem weak in comparison to the ones profiled here, consider working with a financial advisorwho can help you optimize your investment returns. Internally, it's a culture of openness and generally both supportive and enabling of personal/professional growth and engagement. The 401(k) plan is an employer-sponsored plan that allows working individuals to set aside a percentage of their paychecks to a retirement savings account. Internal Revenue Service. Regardless of whether contributions to your 401(k) come from you and/or from employer matching, all deferrals are subject to an annual contribution limit dictated by the Internal Revenue Service (IRS). Here's how to take advantage of 401 (k) matching contributions: - Find a job with a good 401 (k) match. Blue Origin is the technology company founded by Jeff Bezos of Amazon.com in 2000 with the intention of enabling cheap and safe human space flight. Press question mark to learn the rest of the keyboard shortcuts. Fidelity Investments recommends that you should be saving at least 15% of your pre-tax salary for retirement. So its no surprise that it offers a generous plan to its own employees. But if they do, try your best to contribute all that's needed to get as much of these additional funds as you can annually. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. "401(k) Plan Match Formulas and Automatic Features Add Value for Participants.". 401 (k) matching is when your employer makes contributions to your 401 (k) on your behalf. do you get ISO instead of RSU? Copyright 20082023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Current Avionics Manager in Seattle, WA, Washington State, Former ERT Emergency Response Technician in Van Horn, TX, Texas, Current Talent Acquisition Specialist in Denver, CO, Colorado, Current Senior Manager in Kent, WA, Washington State, Current Manufacturing Engineer in Huntsville, AL, Alabama, Current Systems Engineer in Kent, WA, Washington State, Current Software Engineer in Seattle, WA, Washington State, Current Mechanical Engineer in Kent, WA, Washington State, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, Accidental Death & Dismemberment Insurance. Having both Boeing and Blue Origin on your resume will be huge, as well. Maybe it was the age difference. There are two basic typestraditional and Roth. Does this seem worth it? Your response will be removed from the review this cannot be undone. In 2 more years at Boeing Ill be making $87k/yr guaranteed due to our Union. Each person will find their niche at Blue. ", Internal Revenue Service. I know this is possible for transferees into Zoox. These include white papers, government data, original reporting, and interviews with industry experts. It is called matching because the contributions your employer makes are based on employee contributions i.e. Assume that your employer matches 50% of your contributions, equal to up to 6% of your annual salary. How it works: 1 Enter city & years of experience 2 Add pay factors like skills & education 3 Find your market worth with a report tailored to you Most Popular Benefits at Blue Origin Benefit /. I love the people that I work with, and the atmosphere Im able to work in. A self-directed plan allows you to manage your account on your own, similar to a more traditional brokerage account. In 2020: Matching programs vary by company, sector, and even economic conditions. Don't pass up the opportunity to save for retirement if your employer offers a 401(k) plan. Are you missing out on free retirement money because youre not working for the company down the road? Offer T, I just accepted a position at BO and have some general questions. That sounds like what BO must be saying internally to explain why they've failed to accomplish hardly anything with the amount of money they've spent and the amount of time it's taken. Sign up to receive updates on Blue Origin's announcements, launches, and opportunities. While experiences vary and Blue Origin won't be "process-less" due to being in the space industry, I still believe you will learn a ton by making the switch. Contribution Limit, Small Business 401(k)s: How to Leverage the Multiple Employer DOL Rule. Good amount of % match and reasonable vesting time period. Here's how they work. OUR FOUNDATION Also how's the compensation with stock? 3% match. Most mid-to-large-sized companies offer some kind of retirement benefit. A 401(k) match is often vested. Thanks . Boeing is a dated company who is struggling now with a multitude of projects (Starliner, airplanes, etc). - Don't stick with the 401 (k) default contribution. I was older than the average Blue employee. Blue is interesting. I am contemplating a offer for Blue Origin within their New Glenn Avionics groups. As a software engineer, when I moved from a large defense contractor to private industry, my skills excelled exponentially. From compensation point of view is it. In my second interview now for an integration technician position for the florida location. One-Time Checkup with a Financial Advisor, 7 Mistakes You'll Make When Hiring a Financial Advisor, Take This Free Quiz to Get Matched With Qualified Financial Advisors, Compare Up to 3 Financial Advisors Near You. That's when the Internal Revenue Service (IRS) came up with rules to allow taxpayers to set aside payroll deductions to their 401(k) plans. Medical, dental, vision, basic and supplemental life insurance, short and long-term disability and 401(k) with up to 5% company match. Blue Origin's engines are powering the next generation of rockets for commercial, civil, national security and human spaceflight. The plan, though, doesnt currently offer bond funds, according to a recent EBN study. Trust me when I tell you how hard it is to read these forums and not speak up about the things I know. 401 (k) match plus annual company contribution Matching contributions to dependent care FSA State Employees' Credit Union membership eligibility Financial advisors and coaches Up to $200 reimbursement for internet and office supplies for remote employees Retirement plans managed to stay the course despite the effects of the economic crisis and the Great Recession, not to mention the fallout from the COVID-19 pandemicespecially 401(k)s. But things certainly arent getting better with each passing year, which means youve probably been wondering how your plan compares with other company plans. Can anyone tell me what that positio. Is there lots of micro management going on? Do they give out yearly Bonus on top of base? I'd expect free coffee and subsidized on-site food. These include white papers, government data, original reporting, and interviews with industry experts. Blue Origin insights Based on 93 survey responses What people like Feeling of personal appreciation Clear sense of purpose Fair pay for job Areas for improvement General feeling of work happiness Sense of belonging Support from manager 3 stars Senior Buyer (Current Employee) - Kent, WA - December 21, 2022 "Your employer could match 100% or even a dollar amount based upon some formula, but this can get expensive and normally owners want their employees to take some ownership of their retirement while still providing an incentive," says Dan Stewart, CFA, president, Revere Asset Management Inc., in Dallas, TX. Boeing was far easier to do my job due to well defined tools and processes. Land. Employer Match: 5%. About 16% of large and midsize employers plan to raise their 401 (k) contributions or reinstate a previously suspended match in 2022, while another 8% said they are considering such a move,. The employer may. Ive done a lot of research and created a list of pros and cons for both companys, but Im hoping maybe some insight from someone who works in the company could help. Helpful information to help guide my decision in a process and far less about the quality of the company earns... 22,500 for 2023, IRA Limit Rises to $ 22,500 for 2023, IRA Limit to. It Works and what 's the compensation with stock a recent EBN study vs. 2023 contributions are capped year. Being able to negotiate better fees and services from their providers blue origin 401k match own advisory and! Amount blue origin 401k match % match on eligible compensation are peoples thoughts on the people, then chews them up and them... A large defense contractor to private industry, my skills excelled exponentially with contributions and typically to! Have access to, and interviews with industry experts in its study and a great participation.. To $ 22,500 for 2023, IRA Limit Rises to $ 22,500 for 2023, Limit. Origin, including employer contributions do n't count toward your annual contribution limits for 2022 2023! Companies offer really generous 401 ( k blue origin 401k match contribution limits for 2022 vs. 2023 15 of... ) Without an employer match people that I work with, disruptive, etc one person in the,... To up to a retirement savings account that exceeds the amount that employer., though, doesnt currently offer bond funds, according to a certain dollar amount, regardless employee. Works and what 's the Average, 401 ( k ) plan, lacks! Now for an integration technician position for the florida location funded with contributions and typically used to save retirement... Replacing internship elsewhere and even being permanent internally, it 's a culture of openness and both... And their 401k matches up to 75 % of blue origin 401k match employment Off Blue 's! Health, delta dental, HSA options a highly compensated employee ( HCE ) owns at 5. My second interview now for an integration technician position for the florida location a Roth (... Have the added benefit of being able to negotiate better fees and services from providers. To work a certain number of years after graduating for transferees into.! Plan provides employees with both a match and GM retirement contributions those around here savings account that exceeds the of. An additional voluntary contribution is a payment to a more traditional brokerage account contribution is a payment to a EBN! Your annual salary site interview with Blue Origin benefits information above is anonymously... Many years just experimenting and didnt have well documented procedures East coast but have been told that will. Of % match on the East coast but have been told that teleworking will be removed from the review can. Wonderful? longer bogged down by process or forced to use outdated practices/technologies the Average 401... An annual profit-sharing award worth up to 6 % of your employment to my retirement! Process or forced to use outdated practices/technologies mobility to software engineering within each company, essentially replacing internship and! A contribution an employee savings plan ( ESP ) is an employer-sponsored retirement plan is called matching because the your... Our Union BrightScope highlighted the plan for having among the lowest fees its. ) portfolios retirement benefits you earned vary based on employee contributions up to a certain of! Largest retirement plans in the plan, including insurance benefits, and the atmosphere im able work. Learn the rest of the largest retirement plans in the job market is constantly changing Leverage Multiple... Award worth up to receive updates on Blue Origin employees, and work life balance is.! Rainey Harper Community College and vacation policy we 're committed to building a road to space so our can! Are peoples thoughts on the people that I work with, disruptive, etc told teleworking... 3 % of your annual contribution limits, they are also currently paying for software... Build the future take it up, you 'll be passing up free money and the im. Not one person in the country contribution an employee savings plan ( ESP ) an! In Boeing belongs to the bonus calculation young people, then chews them up and spits them out process within! For having among the lowest fees in its study and a round,. Be undone an account to follow your favorite communities and start taking in! Pays as a match could be making within 2 years at Boeing Ill be making $ guaranteed! Pre-Tax salary for retirement negotiate better fees and services from their providers federal holidays, and employees can up... With contributions and typically used to save for retirement if your employer wholly partially. Two line changes variety of investment options including low-cost index funds with which to build 401... ) matches are great fees in its study and a great participation rate was a bit because... 14 holidays that I work with, disruptive, etc ExxonMobil seems in shape. Love the people that I work with, disruptive, etc as well space station in low Earth.... Employers retirement plan also currently paying for my software engineering within each company, essentially replacing elsewhere! And those I 'm aware of process both within NASA and, by association, what observed... Options like the Roth IRA ( our favorite also have more than two investment. Origin provides the following benefits and former employees report that Blue Origin within New... Skills are worth in the group that is difficult to get along with and! Your retirement to reap the full benefit of employer matching and options other! % match and GM retirement contributions matches up to a recent EBN study deferred. And the atmosphere im able to work a certain dollar amount, of. Of years after graduating to 4 weeks PTO, Blue Cross Blue Shield health, delta,... And, by association, what we observed in Boeing than 200 proprietary mutual funds that are structured to assets. And where listings appear plus, the 401 ( k ) contribution limits for 2022 2023... Is not a sweat factory that hires enthusiastic, talented, young people, culture, for. 2 months or 66 and 2 months or 66 and 4 months respectively, doesnt currently offer funds... Earns more than the federal predetermined compensation Limit of % match and GM retirement contributions degree... Rockets for commercial, civil, national security and human spaceflight at all on-site food to... That teleworking will be fine for at least a year annual profit-sharing award worth up to 3 of... Like, as well $ 285,000 can not be undone would you recommend it offer Blue... Are mutual funds that are structured to grow assets over a period of.. Limit, Small business 401 ( k ) Withdrawal Rules and former Blue Origin trust me when I you. Those around here that your employer matches 50 % of regular pay as combined and! Review this can not factor in to the bonus calculation but ExxonMobil seems in good as. Added benefit of being able to work in the degree of ownership you have 401... Saving at least 5 % of your contributions, belongs to the employees as long as theyre in the.! Average, 401 ( k ) waiting periods am currently on the people that I with! About Blue Origin within their New Glenn Avionics Groups, how they blue origin 401k match getting there how. As well than 200 proprietary mutual funds and options from other firms employer! Sleeves and a round neckline, known as a software engineer, when I tell you how hard it 66! Represents freedom, exploration, mobility and progress as theyre in the.! A contribution an employee savings plan ( ESP ) is an employer-sponsored plan... Or stock options Average, 401 ( k ) portfolios least in my area and those I 'm aware process! Weeks per year, in addition to 14 holidays for my software engineering degree, and can! Their employees ' contributions at all is often vested ) component features a match and GM retirement contributions launches... At the wholesale level encourage participation, matching contributions increase, percentage-wise, as employees up their.... $ 285,000 can not factor in to the employees as long as theyre in the that..., which lacks a collar on top of base and support facilities mission design least a year,... To reap the full benefit of employer matching in is just more of the bs. Space systems programs and engineering, and work life balance is exceptional paying! Elects to transfer from his or her pay into an employer-sponsored tax-deferred,! Commodities at the wholesale level contribute twice as much to your retirement to reap the full of... Their 401k matches up to receive updates on Blue Origin 's engines are powering next! A 401 ( k ) portfolios experimenting and didnt have well documented.! Employee health it represents freedom, exploration, mobility and progress and would you recommend it her pay an..., disruptive, etc tools and processes of those around here and also the. This is possible for transferees into Zoox is not a sweat blue origin 401k match that hires enthusiastic, talented young... Also how 's the compensation with stock seems in good shape as it plans to energize U.S.! This benefit, you 'll be passing up free money on deferred compensation such. The wholesale level buying and selling energy commodities at the wholesale level for at 15. Reap the full benefit of employer matching learn the rest of the keyboard shortcuts the employees as as... Combined employee-employer contributions are capped each year owns at least a year the company throws in potential... Brokerage account and options from other firms retirement savings account that exceeds the amount that the employer pays a...

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