On top of the recent massive layoffs, now GE implemented a Quarterly 401k Charge of $5 dollars per quarter.
Check your July statement. When calling the plan administrator they said it was brand new and imposed by GE!
Coincidences with the layoffs so adding more stress to former employees recently let go.
Good move by Exxon, the more $ saved on 401k match the more employees that can be retained
The next phase will be a reduced company match or the total elimination of the match altogether. Exxon is doing that in October. Many other big corporations will follow suit.
https://www.reuters.com/article/us-exxon-mobil-retirement/exxon-to-suspend-company-match-to-employee-retirement-plans-in-october-sources-idUSKCN2510IG
If you’ve been let go you need to roll that thing into an IRA. Much better investment options and none of that nonsense... you can do it internal to Fidelity in a couple minutes
I didn't see the charge on mine.