In an environment like this, investors expect companies to do whatever they can to resuscitate shrinking profit margins. Layoffs, salary freezes, the free soda in the company cafeteria – nothing is sacred, not even the 401(k) program.
A growing list of employers have reduced their matching contributions to workers' 401(k) accounts as they struggle to preserve cash in the recession. But here's how bad it's become: Even AARP has suspended its 401k match for the rest of 2009.
When you're laid off, the loss of health insurance can be almost as devastating as the loss of income. But what many don't know is that the federal government will pay most of the insurance tab for nine months.