Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I signed up for 401K years ago at one of my jobs because I was making more money and didn't miss it at all. But now with them not offering higher salaries there is no way I want my check to be ever lower after taxes than it already is which is why I declined. I would need a huge raise to even consider something like this because there is already too much coming out of the check as it is now.
Now my salary has increased closed to $3000 more a year due to COLA raises since 2014 but I just feel it's not enough at this time. And I thought 401K was something optional that was beneficial so why is my employer being so aggressive in getting people to sign up?
I worked at a place for awhile that had a 401k match. They would decide to match at the end of the year...or not match. They didn't match the 6 months I was there. I knew that when I read the info that I had to "opt out" or otherwise I would be enrolled at 5% withheld for it..
Companies are getting worse and worse as to why your company is pushing so much. Kickbacks. Probably a % of all the junk and matainance fees on the 401k.
They also said u have to be here 5 years to roll it over to another job
Wonder why
That's incorrect. You are always 100% vested in your own contributions. It is federal law. Now, the match can have a vesting schedule, but it's usually 20% per year.
I worked at a place for awhile that had a 401k match. They would decide to match at the end of the year...or not match. They didn't match the 6 months I was there. I knew that when I read the info that I had to "opt out" or otherwise I would be enrolled at 5% withheld for it..
Companies are getting worse and worse as to why your company is pushing so much. Kickbacks. Probably a % of all the junk and matainance fees on the 401k.
regarding your last paragraph, please read post #69
You act like this offering is being done with malicious intent to take more money away from you. It's not. If you don't want to do it, don't do it, but don't complain that it was offered.
I am a little confused, as when I increased my 403b contributions by 5%, my paychecks only decreased by a mere 40 or so dollars (which is far less than 5% of gross biweekly pay).
OP, you say you can't afford to save for retirement, but can you afford NOT to?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
