Tuesday, 09 February 2010

• Your 401(k) Might be Coming Back...

  
  

  Not all of us were lucky enough to receive 401(k) matching from our employers back when times were good. After the recession hit, hardly anyone received the matching anymore.

  Many, many employers put a halt to their 401(k) matching programs to save money. So  some workers were hit twice as hard: they lost a big chunk of their retirement savings and then they  lost the help they had to rebuild those savings.
  

  But according to a recent CNN.com article, based on a survey conducted by Hewitt Associates, indicates that a lot of the employers that dropped this service are bringing them back.  The survey says that 80% of the companies that either eliminated or reduced their matching programs  plan to bring them back this year.   
  

  In fact, these companies are stepping efforts to help their employees save for retirement in general. Some  are offering more investment services or tools to help their employees, including automatic enrollment plans that require opting out of instead of signing up for.   Apparently, according to the survey, these changes stem from the fact that employers don’t  believe their employees can actually save for retirement themselves.
  

  What kind of policies does your employer have for retirement savings? Have they announced any changes for the coming year?

   See the full article here: http://money.cnn.com/2010/02/08/news/economy/401k_match_returns/index.htm?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29
  

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