401(k)s: Employer Contributions Get the Ax

Yahoo ^ | 11/13/08 | Amy Feldman

[Alberta's Child]

Don't get me wrong . . . there's nothing WRONG with retirement. My point is that the whole concept of "retirement" can't be sustained when you have people living as long as we do -- to the point where many folks live as retirees for more years than they spent working!

There's simply no way that kind of scenario can go on forever.

[virgil]

This story is just to give obama and congress cover when they abolish the tax breaks that employers get when they make 401k contributions. Just because the election is over it doesn’t mean the press isn’t still trying to manipulate public preceptions

[caver]

“So because I’m curious, is you match smalller because your contributions are smaller; i.e., if you saved more, would you get a higher match?’

No, actually I contribute 15% of my pretax wage. My company matches “50% up to $450” which means I only have to contribute $900 a year to get the full “50% match”. Nice isn’t it?

I am a technical hourly worker in a union of only a 1000 people. The union is a joke, but I am required to belong to it. I am considered a senior hire because I was hired before 1990. The company says I’m over payed and anyone that was hired after 1990 gets treated worse than me. The big man in the company made over $10 million last year in stock options alone, but I’m over payed. Oh well, I don’t his responsibility.