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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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[–] [email protected] 2 points 2 years ago* (last edited 2 years ago) (1 children)

Just my 2 cents here, but no more bonus + stocks + 401K matching?? That seems like a pretty huge hit for you. If it were me, I'd probably be looking for other offers... you can't simply wait for your company to get its shit together.

Also regarding 401K, every bit of contribution matching helps especially since you are still young and in your 30s. So those small missed contributions definitely add up 30 years down the road.

[–] [email protected] 1 points 2 years ago

Thank you; You're right. I will start looking more aggressively