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No more 401k's for small businesses
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Not viable for small biz anymore?
Based on this report, it appears as though many small businesses will be driven to reduce, or stop 401(k) matching programs.
Given the current economy, this is not surprising news, but, I do have larger concerns.
Several months ago, I started Twittering about the likelihood of small businesses being forced to significantly cut, or totally eliminate health care programs for its employees. I also believe that unless the Feds start offering significant assistance to small businesses, you will see record layoffs over the next few months.
Last month I wrote about the new chic in business. In a nutshell, if you want to give a great boost to the economy, whenever and wherever possible, patronize small businesses. They are competent, more customer focused, and much more appreciative of the business that you offer to them. Besides, given how mammoth companies are treating their employees these days, do you really want to reward them with your business?
While 401(k) retirement plans may be fizzling for small businesses, now more than ever, for the sake of our family, friends and national economy, lets give them our support.
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