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Employer stopped matching 401k (lemmy.ml)

submitted 2 years ago by [email protected] to c/[email protected]

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So, times are tough in the tech world and my company decided that in addition to no bonuses/ stocks for the foreseeable future, they also want to stop matching our 401k contributions.

They say this is temporary, but it's already been 6 months. I'm in my early 30s, so I still have quite some time before retiring. These small differences now will compound in the long run, and I'm starting to think I should look for a new job.

Does my view of these small missed contributions actually being a big deal make sense, or is it something I should wait out?

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[–] bloodsangre7 1 points 1 year ago

I recommend to always be looking for new opportunities. I'm happy at my current job, but I will still take a recruiter call, check pay ranges/benefits on job postings, etc. I don't make it a big time commitment but having options is so valuable.

Stopping the 401k match is a pay-cut, no bonuses/stocks is limiting your near-future earnings, shop around!