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Reply to "Only 1 week notice they're cutting 401k match in half"
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[quote=Anonymous]Hi this is the PP with the 401K plan we're analyzing (1/24 from 23:22). Our plan gives everyone a contribution that's 10% of their salary, even if they contribute nothing. So yes, it's not officially a match since you get it regardless. I have heard anecdotally that some of the younger employees don't even contribute because they don't see the point of doing so when they could be contributing to an IRA where they have more investment choices (although I think our choices are fine). I don't know where the company stands in terms of HCE vs. non-HCEs contributions. There are a lot of HCEs - I am pretty low on the totem pole and I make 120K. The company is more than 20K employees (consulting firm). I am not understanding a lot of your lingo in terms of Safe Harbor, deferral %s and deferring -- could you use a little more plain English as you explain this? Thanks... and I really appreciate your thoughts here. [/quote]
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