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My company just informed us as of 01/01/09 they will no longer contribute the company match..urgh
any other Jerseans have this happen
It's not just Jerseyans, Kate. It's happening all over the nation, and will likely happen even more as companies prepare to be taxed at higher rates in the next four years.
I am very sorry to hear that Kate. I did see on tv that this would be one of the first "benefits" to be either decreased or eliminated by companies to save $$. My husband's 401k match is dependent on how his company does-however there is a minimum amount that he receives regardless of how the company does. It appears that will be changing-this year they changed the formula for the match and it appears that he will receive less of a match. I have not read through the literature yet but from a glance, I believe it will mean less of a 401k match for him now and in the future. He works for a fortune 100 company that is doing better than most.
I am very sorry to hear that Kate. I did see on tv that this would be one of the first "benefits" to be either decreased or eliminated by companies to save $$. My husband's 401k match is dependent on how his company does-however there is a minimum amount that he receives regardless of how the company does. It appears that will be changing-this year they changed the formula for the match and it appears that he will receive less of a match. I have not read through the literature yet but from a glance, I believe it will mean less of a 401k match for him now and in the future. He works for a fortune 100 company that is doing better than most.
Yes, I guess it was coming. I hear Pelosi I hate that ****** wants to make 401k's after tax..who knows. I'm waiting now for the other shoe to drop and have my company tell us "wage freeze" no raises
At this rate and with Obama talking about another unemployment extension I wish they would just bring me box & severance ( unless they cut severance out too) I'd stay home and finish the house..painting etc so when the housing slump is over it's ready for sale
Yes, I guess it was coming. I hear Pelosi I hate that ****** wants to make 401k's after tax..who knows. I'm waiting now for the other shoe to drop and have my company tell us "wage freeze" no raises
At this rate and with Obama talking about another unemployment extension I wish they would just bring me box & severance ( unless they cut severance out too) I'd stay home and finish the house..painting etc so when the housing slump is over it's ready for sale
I have heard the ramblings about certain members of congress wanting to end the 401k as well. They want to force you to put the money into something that amounts to Social Security 2 -with no tax break and something like a 3.5% return. No thanks. If they try it, let's hope enough people revolt and tell them to stick it.
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) I'd stay home and finish the house..painting etc so when the housing slump is over it's ready for sale
