That was the first modification our company made when the new year started...they dropped THEIR contribution to the plan...a whole whopping 1% of YOUR contribution...
I'm missing that like ... hell, I didn't even realize I was getting anything to begin with...sorta' like a fart in a windstorm...big deal.
The real crime in the 401(k)?
Your money comes out...sits in "escrow" somewhere seperate from the company's operating budgets/cash flow mechanisms (or by law, it's suppose to be set up that way), but the company gets the tax savings you realize for them due to the fact that instead of paying the matching portion on what would be your WHOLE check w/out the 401(k), they're paying the matching portion of the Federal and State taxes on your check AFTER the 401(k) deduction has been made. If I remember correctly, your FICA/Medicare taxes are on the Gross Check before the 401(k) deduction. The savings to the company is on the rest of the taxes...
That's the money I would have loved to have recieved over the years...instead, my money is whatever I take from me and give to the 401(k)nuts...
Hey, getting less or waiting a few extra weeks (yep, it's happened to us too) for the funds to clear the manager's fingertips is a whole lot better than having NO JOB to be able to MAKE a contribution to the plan at all...
BTW, there IS a time limit for those funds sitting somewhere and not being credited to your plan...check with the fund manager and document what you send and recieve from him...and let him/her know what you're doing...that just might speed up things a little bit.