My company just announced that starting in 2021 they’ll be moving from our Safe Harbor retirement structure where they matched employee contributions up to 3%, to a profit sharing model where employer contributions are based on company performance and made at the discretion of the owner.
Has this happened to anyone else? What’s the best course of action from here? My wife already maxes out her 401k, but what are some things I should consider when thinking about how to maximize our retirement investments in the immediate future?
If it matters, I’m 34 and have a 13% rate of return on my 401k right now. I’ve been pretty hands off and contributing 6% of my salary, and my company matched up to 3%.
Thanks in advance for any feedback or resources etc.
Submitted December 02, 2020 at 10:23PM by min2themax https://ift.tt/2VufteV
