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Question

Asked 11/11/2008

Can an employer stop matching 41k contributions?

My employer is talking about stopping their match to 401k contributions. Can they do this? Do they have to give employees notice? If so, how much notice will they have to give?

 
 
 
 
 
Answers

Answer 1/2 - Submitted 11/11/2008

Yes, they can stop it. Employers are not obligated to have a 401K or contribute to it. It's a benefit they can offer and take away if they wish. As for notice, probably something like 30 days.

 
 

Answer 2/2 - Submitted 11/11/2008

It is an optional thing that most employees do, and not all have to do it. so it is possible for them to stop it.

 
 
 
 
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