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What Should You Do If Your Employer Suspends Your 401(k) Match?

News Source: RSS Feed | The Epoch Times

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Dear Carrie: My employer recently stopped offering a 401(k) match. I’ve always tried to contribute enough to get the entire match, but now I am in a bit of a cash crunch and wonder if it makes sense to keep contributing. Is it still worth it?—A Reader Dear Reader: You’ve probably heard me say many times that specific financial advice depends a lot on your individual circumstances. And this question certainly fits that category. The pandemic has had a major economic impact on employers as well as individuals. According to a national survey by the Plan Sponsor Council of America, more than 20 percent of large organizations had already suspended matching 401(k) contributions as of April. So, you’re not alone, and I’m quite sure millions of Americans are asking themselves the same question. To me, saving for retirement should be a universal priority. The beauty of a 401(k) is that …

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