There are researchers out there who think the days of employers matching 401(k) contributions should be numbered. They argue that money would be better put to use by funding other employee benefits, and say employees would continue to participate in 401(k) plans even without the match.
The loss of this incentive wouldn't affect all workers, as there are plenty of companies that already do not offer an employer match. I'm wondering if you would be affected if this benefit were taken away — does your employer match contributions?
Timberland
Nica
Pringle
they match 80% up to 6%. I think people would be pretty pissed if they took that away as it's the only good benefit we have.
1Yes, my company matches 50% of our contribution. Even when they were going through many budget cuts that is one thing they would not touch. That and our insurance has not gone up in the two years I have been here. I have friends who work at companies that did away with matching and increased insurance premiums for employees because of the economy. Overall, my company is good about doing what is necessary to give the most benefit to their employees.
2My company matches 25% of our contribution or something like that. It doesnt sound like much but when you think about it where else can you get that kind of 'interest'? Although theyve made a lot of budget cuts lately thanks to this lovely economy, they havent touched the 401k yet. *Yet* And yes, its one of the greatest benefits they offer, so if they took it away, I think plenty of people would be upset.
3The company I am at does not match - there are talks about adding that to the benefits. I just started in Jan and I contribute 10% of my salary to my 401k that I have been rolling over from each job I have had since I was 15. (Scary huh).
4They match 100% of the first 4% and I put 10% in. I love it. I'm not great at saving money so I like that it comes out without me ever seeing it!
5My company matches 100% of up to 6% contributed which is pretty generous.
6My employer puts in $2 for each dollar I contribute (up to 10%). I would be really upset to lose that benefit!
7Yep, my employer matches up to 5%.
Even though I'm usually wishing I could be making
more money, the benefits I have here at work just can't be found anywhere else in town.
8My company matches 100% up to 20% of my salary. It is nice!
9My company does it differently...they match a percentage of our salary after two years. My old company matched the amount I put in.
10my company does match which i think is a great thing. it's really helpful and reassuring that not only do they want you to be a valued employee or feel like one - but that they are willing to invest as well.
11my comapny matches my contribution up to 6% of my income
12My company put in 8% for every 5% i put in. Then if i were still there when i turn 40 it would be 10% for every 5%. Pretty cool.
13My company does not have a 401(k) plan. I do put money every month into a SEP IRA. It would be bad if companies stop matching contributions all together. Most 401(k) plans have lousy options, to begin with, making the employer matching contribution the best reason to stick with the plan. Here's a link from today's cnnfn.com that talks about 401(k)s.
http://money.cnn.com/2008/07/23/pf/retirement/Ask_the_mole.moneymag/inde...
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