RagingBITCH
Lifer
Originally posted by: kranky
Originally posted by: RagingBITCH
Originally posted by: woowoo
OP
Do you have a retirement account with this company?
I would keep an eye on it if I were you....
They offered a 401K - 50% matching. I forgot to sign up for it a few months back when my enrollment hit. I'm glad I didn't now.
Usually 401k plans are safe from problem like this because they are managed by an outside investment firm. If you are in a 401k and your statements come from an outside firm, that money is safe (the company can't take it back). The risk is generally limited to very current contributions which a company might delay if they are having cash problems. Once the contributions appear on your statement, that money is pretty much safe.
I would be more worried about medical insurance being paid up (in general, not your situation specifically).
Sh!t, you know I think you're right. (I think our 401K was managed by Hartford) Was Enron's 401 self managed? I guess I got it confused with that. And I have my medical through other avenues, they doubled the medical costs a month after I started. I should have seen it coming.
And thanks for the advice about staying/walking out. I have no doubt they'll meet their obligations, it's just how soon is what concerns me. Our system admin and myself have a plan of um, accepting certain pieces of collateral in case we never do get paid.