Ups and downs, but hey 401K match is looking good.
6 replies (most recent on top)
Its one of the cheapest tricks, even small companies match 401k for each paycheck, only HON matches at end of year which gives them time to RIF and PIP anyone they don't like and keep the money if employee quits on their own. NO ONE ELSE, I repeat NONE of the LARGE COMPANIES do this, its a HON speciality
Honeywell has an army of lawyers and lobbyist to protect the machine. Thanks to Hipac the money you give will work to figure how to take it away. Like blackjack in Vegas, the house (machine) always win.
It’s better than nothing I guess. Newer employees do not have the opportunity to participate in the pension plan ( eliminated years ago) . It’s a shame that a fortune 100, billion dollar company can’t do a $1 to $1 match up to 8% ( typically offered by the majority of companies that offer 401k). It’s only 87.5 % match?!?! And they don’t match it per pay period, only once a year. They short change their employees this way preventing them from the ability to invest the match NOW instead of a year later. It will be interesting to see how HW handles the new 401k rules just passed in the Secure Act 2.0 that will go into effect in 2024…
You can bet that Honeywell will do whatever she can to keep her employees subjugated. She can't have us gaining too much power at the proxy vote time. She needs to keep getting the executive compensation approved by the voting stockholder.
Buy high and sell low!
Worst 12 months for stocks since 2008 and looking even worse with decades high inflation. That must be why the government is going to (again) redesign how inflation is calculated...
For some reason I have a bad feeling the 401k in the future will be made worse for the employees