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Drop Out of Your 401k
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<blockquote data-quote="59 Dano" data-source="post: 857057" data-attributes="member: 23516"><p>Do you know what would be at risk if enough people do it? "Wow, employees' SFA scores suggest that they aren't compensated fairly but there they are turning down free money," and actions speak louder than SFA scores. Plus, it would only improve the bottom line.</p><p></p><p>I know you're speaking in hypothetical terms and understand your frustration, but it's suicide to turn down free money. A former employer killed off the match due to poor participation and later killed off the 401k program completely because of even poorer participation. No matter what the reasoning for non-participation is, it will be interpreted as "They don't want it and there's no reason for us to pay for it."</p></blockquote><p></p>
[QUOTE="59 Dano, post: 857057, member: 23516"] Do you know what would be at risk if enough people do it? "Wow, employees' SFA scores suggest that they aren't compensated fairly but there they are turning down free money," and actions speak louder than SFA scores. Plus, it would only improve the bottom line. I know you're speaking in hypothetical terms and understand your frustration, but it's suicide to turn down free money. A former employer killed off the match due to poor participation and later killed off the 401k program completely because of even poorer participation. No matter what the reasoning for non-participation is, it will be interpreted as "They don't want it and there's no reason for us to pay for it." [/QUOTE]
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