https://www.nytimes.com/2014/02/15/opinion/making-retirements-less-secure.html
5 replies (most recent on top)
Until it goes to the courts it means nothing. Contact the ACLU to determine if they will take up the case. Working in good faith all year and then HW laying you off to move jobs over seas and you loosing your match does not seem legal...it needs to go to the courts...not HWs lawyers.
We finally got valuable information in a TAM call. First time ever. Our HR person informed us that everything HON is doing is legal. The past match reduction from $1 to 60 cents and now the increase are all legal. Including that at any time before the actual deposit they can reduce or increase or zero out the match. Basically since the match is not yours until the actual deposit they can change the amount to anything including ZERO!!! HR honesty for once. So loyal employees could get rewarded with zero in January
Those greedy sobs don't give a sh-- about employee retirement plans. If it was up to them there would be no retirement and minimum wages or no wages. Work till death.
Tip off the NYT - Power in numbers. More of us who raise attention, more likely they will change course
https://www.nytimes.com/newsgraphics/2016/news-tips/
Honeywell s---s. Lump sum 401k match ONLY serves the greed of the company, never the employee. Our country is in big trouble. What can be done?
“Last Saturday, Tim Armstrong (head of AOL). along with apologizing, did the right thing in announcing that AOL would reverse the change in its 401(k) policy. Other companies using this kind of contribution approach or considering adopting it should think twice about the damage it does to employee retirement plans.”