My company’s 401(k) match disappeared mid-year, HR says it’s ‘optional’ even though the handbook says otherwise
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Personal Finance
I’ve been contributing 6% to my 401(k) since I started last year.
The employee handbook says:“Company matches employee contributions up to 4% of gross pay on a per-pay-period basis.”I just noticed my last three paychecks didn’t show any employer match.
I emailed HR and they said:“The company reserves the right to suspend discretionary match contributions at any time.”That wording does not exist anywhere in the handbook or my employment offer.
The handbook literally says “matches employee contributions up to 4%.”Is this legal?
Can they just stop mid-year without telling us?