The Street: Steps To Take If Your Employer Stops Matching Your 401(k) Contribution

Sr. Financial Advisor Neal Nolan was recently featured in The Street’s article on what to do if your employer stops matching your 401(k) contribution.

“’While a cut in benefits is disappointing, workers should not necessarily change their contribution,’ says Neal Nolan, a certified financial planner with Parsec Financial. ‘This could be a huge mistake, especially at current market levels. Dollar-cost averaging is really important and over time the market will rise to a new high.’

From a retirement readiness perspective, he says workers will be much better off continuing their contributions. ‘However, there are circumstances when it may be prudent to reduce or stop salary deferrals,’ says Nolan. ‘That decision should be carefully weighed. If a worker stops contributions, I recommend restarting them as soon as possible.’”

Stay Up To Date With Parsec

Sign up to join our mailing list and receive quarterly newsletters, whitepapers, news, and more right in your inbox.
Scroll to Top

Thanks for subscribing!

Thank you for subscribing to our email newsletter. We are excited to share with you our latest news, thought leadership, and more.