Reply to Only 1 week notice they're cutting 401k match in half

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[quote=Anonymous][quote=Anonymous]You should ask, or get a group of employees to ask "why?"  Many companies are reducing benefits because they can, which isn't a great reason.   And employees are just saying, "okay," thinking that they need to for the company's well being, when in fact they are just enriching the owners/execs.   This is part of the reason that income has been redistributed so dramatically over the past 20 years. 
 
The book Retirement Heist, by Ellen Schultz, a wall street journal reporter, examines how over the past 20 years companies have lied to employees about why they are changing plans.   The plans are often fully funded and NOT in trouble, but legislative changes have allowed companies and execs to manipulate plans to increase pay to themselves, and/or make corporate earnings projections for wall street analysts (thus keeping stock prices high which is also good for executive pay).   
http://www.amazon.com/Retirement-Heist-Companies-Plunder-American/dp/B00AK3WCZ8/ref=sr_1_1?s=books&ie=UTF8&qid=1359058479&sr=1-1&keywords=retirement+heist

Employees have to stop being sheep and start to stand up to this crap.     [/quote]

This. Cross tested plans and safe harbor contributions were both implemented to allow highly compensated employees to save more and receive higher % contributions. Employees think how nice that the employer is giving me 5% when in reality he is giving you 5% so he can receive 15% + $22k in 401k. [/quote]

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