Not a financial whiz so take this at your own risk.
If you get matching funds, go for it. Just invest in the income fund for now. Not a lot of growth but you wont have the wild swings.
I was about to suggest something similar. If matching funds are intact, contribute the minimum to get the full match, and park it in the most conservative option on the menu, at least for the time being. If there’s no match, there’s not much reason to go into the plan in this environment, plus future taxation is likely to be more severe than at present, so tax-deferred isn’t necessarily as appealing as it once was.
Here’s the thing, the company I work for matches at 6 percent which is pretty damn good if you ask me. However, I put back two grand a month into savings that’s only like 1.5 percent. I can get to that money if I need to. Plus, like I said I have a few other high liquidity investmests.