lump sum

AOL Reverses 401(k) Policy After Blowback

Posted on 02/10/2014 by |Money and Work | Comments

Money & SavingsLike boomers (and all workers, for that matter) don’t have enough to worry about when it comes to saving enough for retirement. Now actions by AOL’s Tim Armstrong may be setting a dangerous example for other companies to follow. First, the chief executive of AOL told employees Thursday he was changing the company’s 401(k) match to a year-end lump sum contribution rather than contributions throughout the year. Leave before Dec. 31, 2014 (voluntarily or involuntarily), and you lose out on …