{"id":63,"date":"2005-07-28T13:06:00","date_gmt":"2005-07-28T21:06:00","guid":{"rendered":"https:\/\/systematichr.com\/?p=63"},"modified":"2005-12-02T01:37:14","modified_gmt":"2005-12-02T01:37:14","slug":"off-topic-for-me-401k-plans","status":"publish","type":"post","link":"https:\/\/systematichr.com\/?p=63","title":{"rendered":"Off-topic for me &#8211; 401(k) plans"},"content":{"rendered":"<div style=\"clear:both;\"><\/div>\n<p>Since I work for one of the major HR consulting firms, I heard this statistic and didn&#8217;t believe it.  Then I saw it written on <a href=\"http:\/\/hr.blr.com\/newsAlternate.aspx?category=1&#038;topic=1&#038;id=16025\">BLR.com<\/a>.  (ok &#8211; now you know I don&#8217;t work for Hewitt &#8211; and no, I don&#8217;t consider them a real consulting firm anymore)<\/p>\n<blockquote>\n<p>Hewitt says its study of nearly 200,000 workers who participated in their<br \/>companies&#8217; 401(k) plans found that 45 percent elected to take a cash<br \/>distribution upon leaving their jobs. The remainder either kept their savings in<br \/>their current employer&#8217;s 401(k) plan (32 percent) or rolled the money over to a<br \/>qualified IRA or other retirement plan (23 percent). <\/p>\n<\/blockquote>\n<p>Don&#8217;t people realize what the huge hit in taxes and early withdrawl fees are?  If people are going to cash out, just don&#8217;t bother investing!!! You&#8217;d just lose money!!!  (I&#8217;m not saying not to invest &#8211; just keep the cash in the retirement fund)<\/p>\n<div style=\"clear:both; padding-bottom: 0.25em;\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Since I work for one of the major HR consulting firms, I heard this statistic and didn&#8217;t believe it. Then I saw it written on BLR.com. (ok &#8211; now you know I don&#8217;t work for Hewitt &#8211; and no, I&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[24],"tags":[],"class_list":["post-63","post","type-post","status-publish","format-standard","hentry","category-benefits-management"],"_links":{"self":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts\/63","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63"}],"version-history":[{"count":0,"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts\/63\/revisions"}],"wp:attachment":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}