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My employer stopped matching, what’s next?

During times of financial crisis, companies tighten their belts, and one of the first perks to go is often the 401(k) matching contribution. Yes, they can do this.

  • It can happen
  • Continue contributions
  • Open an IRA

The Employer Match Can be Changed or Eliminated at Any Time

The employer match is voluntary and can be changed or eliminated at any time. The upside is that companies often bring back the matching contribution when the bottom line improves.

Continue Making Your Regular Contributions

If your employer has stopped the match, you should continue making your regular contributions. Even without the added bonus of employer matches, the 401(k) still has powerful tax advantages that you’ll want to continue to benefit from.

Open an IRA or Contributed to Your 401(k)

If your employer match will be eliminated indefinitely, you might decide to open an IRA, funding it with the money you otherwise would have contributed to your 401(k).

Our goal is to change how we think about saving.

I founded NARPP as a non-profit, because I believe that retirement savings should be about people— and making their lives better. Not about assets under management, sales goals and commissions. The process of saving for retirement has become so complex and confusing it is not surprising that people have a hard time figuring out what’s in their best interest.  It doesn’t need to be this way. At NARPP we are committed to simplifying the complex, delivering fair and transparent investment information, and giving people ownership and control of their retirement savings. Our singular mission is to help you succeed.

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Getting started is easy.

We’ll help you every step of the way.

LET'S GET STARTED