When They Change the Rules
With the economy on the upswing, companies are beginning to tweak their 401K’s for a host of reasons. No matter the reason for the change, now is the time for investors to reevaluate their 401K plans and decide what is best for them. This year, IBM made an odd adjustment and decided to make their 401K matches on December 31. The significance is two-fold; workers, who leave during the year except for in retirement, forfeit their contribution match for that year. Further, any interest that may have been accrued during the year is foregone. IBM is an outlier in...
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