Staring next year, IBM is overhauling its 401(k) plan by changing the timing of its employer matching contribution to once a year. IBM’s contributions will take place December 31 and only those employed with the company on December 15 will receive the match. Those who leave earlier in the year will effectively forfeit the matching contributions they would have been entitled too.
IBM isn’t the first company to switch to an annual match. According to AON Hewitt and the Wall Street Journal, 9 percent of U.S. companies match annually. But when a company the size of IBM does something, it is always interesting to see how many others follow suit…especially since the move is expected to save IBM millions of dollars a year.
Unfortunately, it gives IBM employees one more layer of uncertainty along their road to retirement.
Here is a handful of the best articles by my fellow financial writers…
Albert Einstein’s Philosophies For Growing Wealth | Consumerism Commentary
Stacking Multiple Discounts to Rack Up Big Savings | Free Money Finance
Retire With A Million Dollars – Starting Late | Wealth Pilgrim
Little Known Ways To Speed Up WordPress And Reduce Server Load | My Wife Quit Her Job
14 Proven Strategies for Landing Jobs | Wisebread
The Power of Becoming Aggressive and No Longer Waiting | The Financial Blogger