- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Now will be the time private companies will begin phasing out 401k contributions
Posted on 3/29/20 at 11:19 pm to The Easter Bunny
Posted on 3/29/20 at 11:19 pm to The Easter Bunny
Eeessshhh
0
Posted on 3/30/20 at 12:13 am to East Coast Band
They may as well.
I put in 10% and my company matches 75% of that, and I’m still down for the year.
I may stop contributing for a couple of months.
I put in 10% and my company matches 75% of that, and I’m still down for the year.
I may stop contributing for a couple of months.
Posted on 3/30/20 at 1:13 am to Eli Goldfinger
quote:
I may stop contributing for a couple of months.
If you believe in the underlying principles of investing, now more than ever is the time to pour even more money into it.
Posted on 3/30/20 at 1:23 am to Draconian Sanctions
quote:Indded. Four straight decades of republicans holding the presidency, and majorities in congress. Two bad the democrats haven’t won any elections, held any positions of power, enacted any legislation, or regulation during the last forty years.
We have 40 years of Republican policies to thank for it.
Posted on 3/30/20 at 5:48 am to Draconian Sanctions
I suppose that matching a 401K is a right too. Just like Health Insurance, companies use this as a method of attracting the best employees.
Posted on 3/30/20 at 5:50 am to East Coast Band
Mine has already taken away the match and furloughed a LOT of people.
Posted on 3/30/20 at 6:01 am to mmmmmbeeer
Well, they could have fired him (or 25% of all salary) too.
Posted on 3/30/20 at 6:03 am to mmmmmbeeer
quote:
You work somewhere 45 years, it's unreasonable to think they should offer you some support after you retire?
Uhhh yeah? You plan for yourself, the company plans for itself. They don’t have to be mutually exclusive, but sometimes they are?
Posted on 3/30/20 at 6:04 am to Eli Goldfinger
Now is not the time to stop contributing. When this thing ends, sticks will go up and go up quickly. If you can afford it, get as many stocks as you can
Posted on 3/30/20 at 6:04 am to mmmmmbeeer
quote:
You work somewhere 45 years, it's unreasonable to think they should offer you some support after you retire?
Hate to be the bearer of bad news, but there aren't many places left where working somewhere for 45 years is to your benefit. Making some jumps is now the way to maximize your wage and retirement especially since retirement accumulation is based a lot on wage. The rest of which is based on personal choices.
Unfortunately, loyalty is only worth it if you enjoy where you're at, being loyal doesn't get you 20-30% raises.
Posted on 3/30/20 at 6:06 am to East Coast Band
Mine already did this. If it will help them keep a few coworkers employed, so be it. I'm in a really good position, others may not be.
I've had this happen twice before. Once was permanent, once (with the same company I'm with now) it returned but with a lower match. It will be dependent on the job market in and employer practices in whatever area you work in. Free market will dictate what it takes to get and keep employees, particularly good employees, which are getting more and more mobile as time goes on.
quote:
I anticipate companies to first announce that it's a temporary halt in matching, but will become permanent in the future.
I've had this happen twice before. Once was permanent, once (with the same company I'm with now) it returned but with a lower match. It will be dependent on the job market in and employer practices in whatever area you work in. Free market will dictate what it takes to get and keep employees, particularly good employees, which are getting more and more mobile as time goes on.
Posted on 3/30/20 at 6:07 am to ulsaint
quote:
Yep. And once it’s gone it ain’t coming back
my company stopped all 401k match my first yer with the company (5 yrs ago). didnt have it for 2 years, reinstated it (albeit a small amount) but has been increasing every year since. it is still shitty, 3% for a max of 3200 but better than nothing
Posted on 3/30/20 at 6:09 am to Draconian Sanctions
quote:
Welcome to the corporatocracy, an endless race to the bottom. We have 40 years of Republican policies to thank for it.
L O freaking L
Posted on 3/30/20 at 6:14 am to BobABooey
quote:
“Sidesource” entire business units to another company, IBM for example. Employees become IBM employees overnight with a 1 year contract but continue to do the same work. Meanwhile, the original employees train visa’d workers in the US how to do the job and their contracts are not renewed after the year is up.
This happened at my old company, and I was one of the ones let go as a result.
Posted on 3/30/20 at 6:31 am to East Coast Band
Good thing i don’t work for one of those
Posted on 3/30/20 at 7:30 am to GreatLakesTiger24
quote:
White collar unions coming soon
we are long overdue
Posted on 3/30/20 at 7:31 am to GreatLakesTiger24
quote:
White collar unions coming soon
Haven’t some already?
I don’t see that happening in my industry.
Posted on 3/30/20 at 7:35 am to East Coast Band
quote:
which typically is about 3% or so of employees' salary.
3%? Damn, my 7% match seems pretty good now.
Posted on 3/30/20 at 7:38 am to Saintsisit
quote:
Damn, my 7% match seems pretty good now.
That is insanely good. I have been with the same firm for 13 years, and the best match has ever been 4%
Posted on 3/30/20 at 7:42 am to Rouge
My initial company would match dollar for dollar to 4% and then half a percent up to a total of 6%. That company got bought by a much larger multinational company and now I think I get the same for the first 4% but the match ends at 5.5%
Page 4 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News