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Pensacola Discussion Forum » General Discussion » Corporations Tapering 401k Contributions

Corporations Tapering 401k Contributions

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Guest


Guest

http://www.pbs.org/newshour/bb/companies-scaling-back-matching-401k-contributions/

ZVUGKTUBM

ZVUGKTUBM

My last employer waited until the end of the year to pay its 401(k) match, so I can't see how this is a big story. They would match up to $1K, so long as you put in $2k of your own money. They also paid out profit sharing in December, which varied, depending on how well the company did.

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Guest


Guest

ZVUGKTUBM wrote:My last employer waited until the end of the year to pay its 401(k) match, so I can't see how this is a big story. They would match up to $1K, so long as you put in $2k of your own money. They also paid out profit sharing in December, which varied, depending on how well the company did.

That's against the law to wait until the end of the year. You have have to put the money in within a certain amount of time. as soon as you can segregate the funds usually within 7 days depending on how many employees. You lose money that way in interest.

Guest


Guest

PkrBum wrote:http://www.pbs.org/newshour/bb/companies-scaling-back-matching-401k-contributions/

I guess this must be another sign of how wonderful this obummer economy is.

Good thing my employer matches 100% for the first 3% then 50% every % after that. I'm happy with that.  Very Happy 

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