Your cruise director has received several e-mails concerning the 401k issue. It really seems to be a “good news, and good news, but you might want to also consider . . .” situation:
– several people have asked and received confirmation that Heller is paid up on all its administrative fees for the 401k accounts;
– the vibe is that those emailing believe what they are hearing from our benefits people (who are Heller support staff too) and are confident that they will have access to their retirement funds; but
– some have suggested lowering your contribution to 0% for the time being.
There of course are advantages and disadvantages to not putting money into your 401k: you have a higher taxable amount in your paycheck but, what you do get to keep is instantly accessible and not tied up in a 401k account. Good advice from several people. Yours truly took the “plunge” as it were and set the contribution level to 0%.
This may not kick in on the upcoming pay date (Friday, September 25) but it will kick in for pay dates thereafter.
Remember, you can also makes changes to your contribution level later. Perhaps later in the year when bonus checks come out. LOL.