My employer — which has made many dubious changes this last year —announced that after over a decade of offering an IRA (which they match your contribution up to whatever percent), they are ceasing this offering effective end of the year, and instead offering a 401k.

This was quickly glossed over in staff meeting (I mean, they literally said the above and moved on), with zero follow-up since then. Pardon the cynicism, but they wouldn’t be doing this change unless it somehow saved them money, or perhaps they are preparing to lower what they match as well.


So, I guess I should open a 401k with them regardless, right? And put in the maximum that they will match? Would there be any reason not to do so?

Further, my IRA is still floating out there, but will have zero contributions from my employer as mentioned. Should I still throw a few pennies at it here and there as the years roll by even though no one is there to match my contribution?

This is truly my year of financial bullshit.

Thank you.

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