A Quite Scary Step in the 401k World via IBM

I wanted to re-post this piece courtesy of Mark Hanna at Market Montage regarding the 401k changes that IBM is looking to make.  I briefly read about this situation in the WSJ as did Hanna but as he states it did not receive a lot of media attention.

Bottom line, IBM is looking to change the 401k contributions it matches for employees to pay out only once per year during the month of December.  In addition an employee who left before the match was paid would no longer be eligible to receive that match.

Not only does this likely have a severe impact upon the employees, it could also have an impact on the overall markets with a flood of activity driving the movements of the markets.

Full story here