To disarm the big tech bomb, including “AI”, the public needs to be on high alert — as AI firms start to visibly wobble, we need clear demands and firm commitments from our leaders that if it all comes crashing down, the public won’t be the one left holding the bag.
Match means they match your contribution. (Up to x% of your salary, not everyone sees the 6% match you mentioned sometimes is 3%, sometimes it’s 10%. Depends on company… It varies a lot.)
So like if they match 5% and you make 100k, and you elect 5% to your 401k, then the company also contributes 5% of your salary to your 401k. If they match 5% and you contribute 1% of your salary they MATCH 1% of your salary to your 401k. Your 401k is yours. You can tell the managers of it to put it where you want, but it goes somewhere your org wants it to by default.
That includes where you invest your contribution.
By default your company invests in a bunch of s&p 500 index funds, probably.
You could tell them to yolo the whole 6% of your salary they match on Tesla, Gold futures, Pepsi, whatever you want.
Yes, mileage varies. There’s also a vested (work for that company X years before you keep that portion when you leave) aspect before you get to keep the employer contribution, and the remain separate accounts.
Who is the “they” you call? HR? An 800 number? It’s clear as mud at a first look. The point being, most people aren’t even going to know who to call for this. Most work retirement packages are a click once and forget type deal. Can you find the info? Yes. But it takes work. And remembering that you even have this click and forget thing attached to your workplace. That’s just people though.
Oh but private retirement funds are so much more “efficient” and have no bureaucracy! That’s what they tell you anyway. About as useful as private health insurance.
Wouldn’t matter much anyway in this case. They were always going to find a way to stick us with the bill. Hope everyone is ready for Great Depression 2: AI Slop Boogaloo!