Maybe you can’t understand plain English. There isn’t enough profit to allow a company match of any type. If our company established a 401k with any type of match, the company would be bankrupt quickly.

Our company is a small company with approximately 73 employees. Considering monthly overhead, adding thousands to that from a match standpoint would sink the company.

So, would it be better to have a company match for 4 months and fold or would it be better to continue said company long term without a 401k?

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Posted by slackster

Houston

Member since Mar 2009

85487 posts

Posted on 3/1/24 at 6:18 pm to HeartAttackTiger

quote:
Maybe you can’t understand plain English. There isn’t enough profit to allow a company match of any type. If our company established a 401k with any type of match, the company would be bankrupt quickly.

How is/was anyone supposed to know this? Your two posts in the thread said nothing of the sort.

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Posted by UltimaParadox

Huntsville

Member since Nov 2008

40909 posts

Posted on 3/1/24 at 7:13 pm to HeartAttackTiger

Sounds like your company is one bad day/month from going under. That's rough. Guessing it is very difficult to hold onto decent employees. Most of the positions minimum wage?

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Posted by Pauvetibete

Member since Apr 2022

521 posts

Posted on 3/1/24 at 7:22 pm to HeartAttackTiger

If 70 people putting in 5% bankruptcies the company, you are either paying way to much to employees, have an awful product with insanely margins, or the owner is skimming all of the money. Do you also not offer health insurance?

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