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nieceandtows

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Employer stopped matching 401k (lemmy.ml)

submitted 1 year 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] 4 points 1 year ago

Your employer says they can't afford to keep up their end of the compensation bargain. There is a fair chance that layoffs will be coming down the road. There is never a bad time to test the market for your skills. This sounds like a very good time to do so.