Do you demand a 401(k)?

August 11, 2008
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Corporations are boosting 401(k) plans even as they abandon traditional pension plans.

Workers are getting automatic enrollment, more investment options and greater contributions from employers.

Employees want 401(k)s, and theyâ??re good for business, companies say. In fact, companies without 401(k)s have difficulty competing for workers.

Would you work for a company that didnâ??t offer a 401(k)? If you have one, are you happy with it?
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  • It would take something extraordinary for me to even consider a company that didn't offer a 401k. In fact, I don't know that I would consider one that had a 401k but didn't have any kind of matching of my contributions. My feeling is that if the company isn't committed to my long-term interests like retirement, they only view my as a short-term resource that can be eliminated at the first sign of hard times.
  • No way. I'll take it a step further -- I am considering leaving my current job if they do not implement Roth 401(k) for the tremendous tax savings to me in the long run. I'm in my mid-20s and three years out of school.

    My current 401(k) is probably great compared to the 401(k)'s of the year 1999. I get automatic enrollment, a fairly broad choice of funds to pick from, and matching.

    At the end of the day however, I would be willing to take $5,000 less of salary and go to a company that offered me a Roth 401(k) for tax savings, offered me more international funds to pick from, and more matching. Those choices would pay for themselves x 10.

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