5 Ways Employers Plan to Change Their 401(k) Plan

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My company was bought out and the new company's plan doesn't allow you to pick and choose where you put your contributions. What should I do with my current 401K.

It has gone down in the past few months, and I want the chance to let things rise again before switching everything over.

Jean Corea of MO 4:55PM November 30, 2011

Great Post. I add this Post to my bookmarks.

lovecalculatorwk of AL 12:57PM May 03, 2010

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dorotheeve of HI 2:33AM August 26, 2009

401 k and other none goverment retirement system are good unlike Social Security as long as goverment fingers are kept out.But with the new spending budjet that will not last long.Try to find plans which are out of the govermnt reach befor it is made illegal to do so.

harry of VA 2:17PM July 02, 2009

Here's a perfect example of how corporations are getting out of the business of retirement. They discarded defined benefit plans, for the most part, years ago thereby transferring the market risks to individuals in 401(k) plans. Next, they dumped retiree health care. Now they want to reduce, or eliminate altogether, their present meager contributions? All they while, they pull in their multi-million dollar annual bonuses? What a bunch of crooks!

Gary Scapellati of CA 1:26PM July 02, 2009

One key to building wealth is “Don’t turn down free money!” When you maximize contributions to your qualified retirement plan you accept free money from three sources:

1)The taxes you normally owe the government,

2)The interest earned on the government’s tax dollars which are now inside your retirement plan and

3)The interest earned on the interest.

Employer matching is a 4th source for free money.

Saving for your retirement is the BEST thing you can do, even if it’s only a little at a time. An example of the impact of on-going savings can be found in my blog - http://www.peoplesfinancialadvisor.com/personalfinance/?p=20

Bob Schumann of CO 10:46AM June 24, 2009

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