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It’s Official: Our Employee Benefits Are Over

by J. Money on Tuesday, September 21, 2010

crying child

I probably shouldn’t be blogging about this, but F it. It’s my blog and I can cry if I want to. All our benefits are going away!!!

It seems our 4 year run of fun has finally come to a close and we’ll be acting like a real business now… I can’t say it’s all that surprising, but I also don’t have to like it :(

The GOOD thing is that I’ve been maxing these benefits for quite some time, so at least I’ve taken full advantage while I could. That, and I still have a job! (Although it’s debatable whether that’s actually a good thing or not since I’m trying to go solo… but for now I think it’s def. smart.)

So what have we lost?

  • Our Entire 401k Match. Hard to justify 100% matching on 100% contributions when times aren’t good.
  • The 401(k) itself! There’s no way to sugarcoat this one, it plain sucks.  The match was to be expected at some point, but dropping it altogether?  Not cool.  Someone’s gonna have to find new ways to invest come January… (I’m already maxed for this year).  I just feel bad for those who ONLY invest via 401(k) here because I don’t think they were investing anywhere else :(  Some people just won’t do it if it’s not easy.
  • 10% of our salary. It was cut 3 months ago, but it’s still worth mentioning again.  And a little too eery considering I posed the “would you take a 10% paycut” question just the year before!
  • 100% paid health insurance. We now have to pay 40% of it.  Not the worst thing in the world (would suck even more if we didn’t *have* insurance) but it’s still an extra $300/mo. out of pocket that we didn’t have before. And paying for something you’ve always gotten for free is just harsh.
  • The Starbucks Card. Remember our unlimited supply of Starbucks?  Gone gone gone. But this is the least of our worries, esp since we expected this years ago.  I will say that I’ll miss the camaraderie we build around these breaks though.  Now we have an in-house coffee pot set up so we don’t waste company time (Hah!).
  • No more 10am start time. 9a.m. would have been fine, but 8:30?  I want to die every morning.  I know this is “normal” for a lot of you, but my body just doesn’t function well waking up in the 6ams.  Maybe I’ll get used to it, but right now I want to punch myself in the face.
  • No more “take it as you need it” vacay. We’ve got a finite # of days we can take off every year, and that’s that.  It’s a good thing I took all those days off before it started to count!

There are a few other suck-ities that are also in the works now, but that’s the majority of them.  Really makes me realize how good we had it, even though it hasn’t quite registered all the way. I’m also NOT enjoying work as much as I used to so maybe it’s all happening for a reason?  To force me to make a change?

I don’t know.  It just blows. I’m sure I’ll get some comments here on how appreciative I should be for just being employed, but we all have our issues we’re dealing with.  And today it’s about me and my stupid losses. So I’m venting and feeling good about it – I’ll be back to my cheery self later…

(Photo by emrank : Eid Mubarak)

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{ 65 comments… read them below or add one }

1 Mr. ToughMoneyLove September 21, 2010 at 7:54 am

J – I’m sorry this is happening to you but I hope it forces you into a different direction where you are not having to work for the man. Motivate yourself by reading a copy of the 4-Hour Workweek, then start dreaming and scheming. You’ve already got a good start with this blog.


2 Heather September 21, 2010 at 7:57 am

Well, I have to say… it sounds like you have a REAL job now. HAHA. Welcome to the world the rest of us live in. Starting at 8:30, a set # of vacation days, no Starbucks card.. that sounds like the way the majority of us have been living for a really long time.

Losing the benefits and the paycut is really bad, though. Best of luck, J!


3 MK September 21, 2010 at 8:14 am

I’m with Heather on this one! Sorry J, but welcome to the world of the real working day. Although I think the worst part is losing your 401k all together. I completely understand the loss of 100% match, but not having the 401k anymore? Luckily you know there are other options out there, and have been using them prior to this happening!


4 Kams September 21, 2010 at 8:16 am

That sucks! I have a number of perks at my job, and I always get the ” you’re so lucky. what are you complaining for?” speech.. It’s not that you’re unappreciative, or under some illusion that you’re worse off than others in the work force, its that you’ve become accustomed to the benefits you were offered, and a decrease in those benefits suck!
On a side note, I’m totally jealous that you guys had free Starbucks! I don’t even have a Starbucks where I live, and it crushes me :D


5 Amy September 21, 2010 at 8:19 am

So sorry this is happening to you! Sounds like you had it very good before! I’ve been working in a job I hate (8-4:30, sucky health insurance (although it’s still 100% paid), never a 401(k) match, and always set # of vacation days) for 4 years now. I fear my situation will get worse like yours did. I’m working on going solo as well because of this fear. Just know that others are in similar boats! Good luck to you!!


6 Philip September 21, 2010 at 8:23 am

Dude that sucks! Recently some of our benefits have been cut back but not quite to the point of yours (because we didn’t have that many) but it really makes you start looking at what else is out there! Best of luck taking it wherever you want this to go.


7 Kim September 21, 2010 at 8:50 am

I didn’t know it was even possible to have it that good to begin with! Well, I do feel for you because losing something that you’re used to is always a difficult adjustment. However, I now need to seek out a firm that operates like yours used to and gain employment there…haha


8 Tiffany September 21, 2010 at 8:52 am

Wow, that’s a LOT of cutting. Something similar happened at a company I worked for awhile ago. After they started cutting every possible expense (do the bathrooms really need to be cleaned more than once a week, etc) they started letting people go. At that point, the company looked really good on paper and they sold.

Keep saving J. Money!


9 Jeff @ Sustainable Life Blog September 21, 2010 at 9:01 am

Man J$, You had some pretty sweet benefits. Sucks that they are gone, but good that you got to max your 401 this year. Think of that as a 16,500 raise!


10 Kevin @ September 21, 2010 at 9:04 am

You went from the best perks I’ve ever seen at a job to almost the worst. I can’t believe they are cutting the 401k altogether. It definitely sounds like the right time to start looking at going solo or going somewhere else.


11 Kay Lynn Akers September 21, 2010 at 9:40 am

Your headline is a little misleading as you have reduced benefits, but still have benefits. I think the worst is eliminating the 401K. Even if the company cut all matching they should give employees a vehicle to save significantly for retirement.

I think it’s time to make a change; either go on your own or a different company.


12 Trinnie S September 21, 2010 at 10:00 am

Oh wow…so sorry, J. I can’t believe they’d eliminate the 401k all together. That’s insane! Hey, I have an idea…move to San Antonio or Colorado! I know a good company you can work for! :)


13 Miss Jane September 21, 2010 at 10:02 am

Wow, eliminating 401K entirely? I’ve never heard of that before. My company had to stop matching last year, but they tell me they’ll bring it back next year.

8:30 eh? Try 7:45 with a bus commute that puts me at waking up to a hungry puppy at 6AM ;)
As long as there’s coffee at home I’m fine (hooray keurig coffee maker).

Bummer about the other cutbacks. Much luck to ya. Just think, this is a good opportunity to create more budgets right?


14 NancyO September 21, 2010 at 10:22 am

i’m not familiar with your business, but you might want to look into a Solo 401k or SEP IRA.

True, you’re loosing the “Free” match but in this case, the match is “essentially” a tax deductible business expense. The Solo 401k gets the most tax deductible money.

In either case, you definitely want to talk to a tax advisor or a financial advisor about what’s best for your scenerio.


15 Rachel211 September 21, 2010 at 10:29 am

I know it sucks to have all this happen – BUT – Holy crap! It sounds like your benefits before were like hitting the fricken lottery! ;) I feel bad for you having to get used to a new situation – but not that bad considering how much you have been benefiting from all that time you worked there!


16 Wojo September 21, 2010 at 10:37 am

I’m curious…what would be the benefit to the company of eliminating a 401(k) plan? Are there that many administrative costs that the company has to pay directly? Just seems kind of extreme.

My company cut matches 2 years ago, but there hasn’t been any talk of actually eliminating the plan.


17 Red September 21, 2010 at 10:46 am

Dude, let it out! I would be balled up in a corner crying and eating my hair if I lost all those great benefits!

Given, I’ve always worked the way you’re having to work now, but it does suck compared to what you had. I know every time I think about a “dream job” I imagined YOUR job. Not because of what you’re doing, but because you get to wear tshirts and flip flops to work and you had such great benefits. (Our office is business casual. SNORE!) Good luck to you, man!


18 MoneyMan @ FinancialOdyssey September 21, 2010 at 11:06 am

I don’t blame you, I’d be upset too. No 401k is pretty ridiculous me thinks. At least you can still max out your Roth IRA. But maybe this isn’t so bad afterall, now you have even more motivation for going solo, where there’s a will there’s a way! Good Luck to you friend.


19 momcents September 21, 2010 at 12:00 pm

I would absolutely be upset if I were you. The best part of the hubby’s job is the benefits. If those were suddenly taken away, I’d be steaming mad. I actually appreciate the fact that they did a 10% workforce layoff, getting rid of dead weight, instead of just spreading the pain around.

At least you took full advantage of the 401k matching while you had it. I’ll bet your retirement savings are in better shape than 99% of people your age. I know they’re better than mine!


20 Brandon September 21, 2010 at 12:20 pm

It sucks losing those benefits. Having perks to your job beyond monetary compensation is the key to retaining quality employees.


21 Penny Frugalista September 21, 2010 at 12:35 pm

It’s crappy that the company is implementing all that stuff at once (what, did they get someone to look at the books and evaluate the money drains?), especially the 401(k) total loss. But otherwise, you’re now back with 90% of us other office workers who have been dealing with this kind of stuff for a few years now (thanks, recession).

And I’m a 10 am-starting-time person, and that would BLOW if we got moved up to 8:30 am. So I feel you there.


22 Tim September 21, 2010 at 12:37 pm

Sounds like it’s time to start you’re own company. If you’re not getting benefits, you might as well not get them on your own time :-)


23 Techbud September 21, 2010 at 12:54 pm

Ouch! Grass is not always greener. A number of those perks people would die for, but it is harsh to take all of them away all at once.


24 krystalatwork September 21, 2010 at 1:08 pm

Damn, I’ve never had any of those things at my job, and I think my work place is pretty freaking sweet. Now you’re just like the rest of us! :) But I know how you feel – once you have something, it totally sucks having it taken away from you. At this new job, I have great benefits, except there are couple of things they don’t cover – and those few things are what I need! So the health care doesn’t really do much for me.

Hang in there. Maybe they will re-implement things when times get better. Or this may be a sign to test the waters and see what else is out there!


25 Becky September 21, 2010 at 1:41 pm

I’m sad for you — but it seems like your company is heading towards “normalcy.” We have to pay a portion of our health benefits, and we do not get 100% matching. It happens, but be thankful you have a job right now while you need it.

Remember — we’re no longer in a recession!



26 Becky September 21, 2010 at 1:43 pm

Oh yeah.. I leave my house at 5:45am and drive 55 miles each way… ;) Yes, I get off work at 4pm, but hey… that’s why I get up with the roosters!


27 Jaime September 21, 2010 at 1:47 pm

Hey its your blog and you can vent if you want to. ;)

So what if its the recession? Life still happens, and yes it sucks losing benefits. Well I hope eventually things get better for you.


28 Briana @ GBR September 21, 2010 at 1:55 pm

Woah J, where were you working at? You guys had it good. 10am start time, free Starbucks, 100% matching? That sucks that it’s all gone, and really sucks about having to pay for health care you used to get for free. Let this be the motivation to do what you need to do. But just think, some of us NEVER had it that good.


29 brooklyn money September 21, 2010 at 2:31 pm

Like mostly everyone else, I never had a 401K match at this job, we just got dental insurance a year ago, we have a high-deductible health insurance plan (although the company does kick in for some of the deductible) and I start at 8:00 or 8:30 am every day. I do however have a corporate gym membership that saves me some $, and I use my work phone as my personal phone, so no phone bill.

That really is a huge reversal of benefits that you’ve gone through. Too bad they couldn’t have had a happy medium all along, instead of going from everything to almost nothing.


30 Abigail September 21, 2010 at 3:44 pm

$300 for company insured health care? Ouch. My advice would be to start looking into individual plans.

My aunt was covered through her husband and it was a better deal. So her employer agreed to give her the same amount she’d otherwise have contributed to health care. Later, when my uncle was laid off, they found a plan that was still cheaper and better than the one her boss was offering.

Approach HR and ask if you could get even a percentage of the money they’d otherwise spend on your insurance. The company would save money — 60% is $450, so even if you ask for $300 that’s quite the deal for them — and you’d save money on health care. And since you’ve been continuously covered, you don’t have to worry about pre-existing conditions.


31 FinEngr September 21, 2010 at 4:00 pm

I probably shouldn’t be writing about this, but F It. It’s my comment.

Couldn’t help but laugh from the get go! You are such an entertaining writer, even when it’s bad news it is pretty hard not to enjoy it.

At least you’ve still got the sugar momma to support you right?


32 Donna Freedman September 21, 2010 at 5:46 pm

Yikes. I’m sorry the news was so bad. Why in the world would they drop all this at once? Are they hoping a bunch of you take a hike so they can hire new people at much lower salaries.?
And yeah, start looking for better coverage elsewhere. Heck, I’m 52 and I pay only $338 a month for an HMO. You’re a young dude — your insurance should be cheaper than that.
Or you could bring in extra money by posing naked on Google.


33 Jenna September 21, 2010 at 6:16 pm

Sorry to hear that! 60% coverage is still better than nothing. Trust me!


34 Matt SF September 21, 2010 at 6:35 pm

If anybody can adapt, recover and thrive, it’s you man.


35 Laura September 21, 2010 at 7:48 pm

I had NO idea these types of jobs existed anymore!!
Good for you for taking full advantage and unfortunately I’m fairly certain you won’t find another job w/benefits like that again.
I will say what’s probably makes it worse is the aggressive cuts all at once. Couldn’t they have just started w/the Starbucks privileges being cut and maybe a 9am start?!


36 Kristina September 21, 2010 at 7:54 pm

Loss of the Starbucks “Carte Blanche” really sucks!!! I hear you about the 8:30 am situation. I am sooooo NOT a morning person. Even though I am an almost 30 year old female my co workers tell me that I live like an 18 year old Frat boy. I would much rather work 10-6 than 8-4. When I work 8-4 I am always running in at 7:58 shoving stuff in my locker, changing from my sneakers to my high heels, and I’m ready to go at 8 am for our staff meetings. When I get home at 5, I sleep until 6 or 7 then I wake up, do my stuff, and go back to bed at 11pm. Day shift sucks. Sorry about your loss Jay. ;Hopefully you will adjust over time :-)


37 J. Money September 21, 2010 at 9:35 pm

Thanks guys. Even to you who are welcoming me to “normal” land. It’s true, I had it good and now I have it average ;) But I appreciate you not hating on all my whining.

And there is one good thing that still remains, I get to keep my mohawk! That’s a most beautiful thing.

Some responses:

@Mr. ToughMoneyLove – Yup, already on it sir. 4-Hour workweek demolished last year ;)
@Kams – No Starbucks around you? Oh wow, I’d lend you 1 of the 13 around my office anytime if I could! No one should have to live like that ;)
@Amy – Thanks Amy, my prayers go out to you that you go solo before things start falling! We’ll get there eventually, just a matter of when.
@Tiffany – We’ll probably try and sell too at some point, which is really the only thing kinda keeping me there besides the $. Small chance we’ll get equity in the company.
@Kevin @ – Hah! sums it up perfectly, “You went from the best perks I’ve ever seen at a job to almost the worst.”
@Trinnie S – That is tempting! But then what would I ever have negative to say about USAA? No one would read my blog anymore ;)
@Miss Jane – Haha.. 1 budget is just fine, thank you very much.
@NancyO – Thanks Nancy, it’s on the list to look into!
@Wojo – New CEO says it’s not in the budget (even though it’s so small an amount). Unfortunately I’m the only one who cares about it here and my voice only carries so far.
@Red – You’re funny :) Time to stop dreaming of my dream job.
@Brandon – Yup, and 2/3 of the GOOD people already left. Only a cple of us still there (I am counting myself in that group, haha…)
@Penny Frugalista – Yeah, new management = new regime. Would have been nice to have done slowly.
@Tim – In the works ;)
@krystalatwork – Thanks Krystal :) You can appreciate this – I’m starting to do more graphic design now! So that’s a plus. Using my actual degree for once, haha…
@Abigail – I pretty much AM HR now, how crazy is that? Our crew is dwindling by the days. Should be leveling off now though and start getting as normal as possible.
@FinEngr – It’s pretty funny actually that out of all this drama my blog is the one thing that remains constant. Would have never guessed in a million years. Life is crazy my man, and I’m glad to know you in it :)
@Donna Freedman – I already pose naked on Google. You know “The Situation”? That’s actually me ;)
@Matt SF – Thanks Matt, that means a lot.


38 Julie September 21, 2010 at 10:33 pm

Ugh sounds like they’ve given up on having happy employees! The “normal” workplaces with 8 am start times and no benefits completely squash creativity and employee satisfaction… bye bye innovation!


39 Bryan September 21, 2010 at 11:03 pm


Think of it this way. . .I’ve been reading your blog for a while now. . .and I’ve always thought it was unreal that you received a 100% match but the key was you took advantage of it while it was available. It sucks, but in reality. . .not many people can say they are/were stashing over $32k a year in their 401k. If you stop contributing now, and it sounds like you have to, you’re going to already be a HUGE amount ahead of the majority of the population. Anyway, just saying. . .

And if it’s any consolation. . .I had to be at work at 5:45 AM today. . .but I work in agriculture so that’s just kind of the way it is I guess. . .



40 Mary S. September 22, 2010 at 1:36 am

Yes, there are always people who have it tougher but Holy Hell – those are huge changes and I would be whining about losing them too. Unfortunately, solo/self employment isn’t usually the best path to increasing benefits, but it has so many other perks & advantages. Love not having to take the nose ring out everyday lol


41 LB September 22, 2010 at 3:46 am

I have no idea why you are complaining! Currently I have no benefits, no vacation, no 401k, no nothing. Where do some of you live to get health insurance for $300? Not where I am, definitely not through employers in my field or on my own.


42 mbhunter September 22, 2010 at 3:46 am

Keep doing what you’re doing. You’ve got the right idea. (doing the business-building in “spare time” after work)

And don’t worry about the 401(k) too much. (Did you lose what you put in? That would suck.) They’re not a cure-all, and there are trade-offs.


43 Steve September 22, 2010 at 6:43 am

Go work for the government. They are about the only ones left who have not felt the pain of this recession. They get all the perks because its your money.


44 FinEngr September 22, 2010 at 8:42 am

@ Bryan:

That’s the best observation… he took advantage of it while it was there, and like you said, even with it ending – still puts him ahead of the game otherwise.


45 tom September 22, 2010 at 9:13 am

Dude… very sorry to hear that. I am extremely happy for you that you’ve received such sick benefits up until now and you’ve had the ability and smarts to exploit them to their fullest.

Those are some pretty significant cuts and they came hard and fast. It’s absolute BS that they are taking away the entire 401(k) and the entire matching.

At this point… do you think it’s time to dust off the resume? You’ve been saying for a long time that you love your job, but it seems that a big part of that was the flexibility and generosity. These cuts seem like a big slap in the face along with a swift kick in the…


46 Michelle September 22, 2010 at 9:30 am

pssssh….that sucks…I would carefully monitor the tenor of the sr leaders – cuts like this would be taken as writing on the wall that the company is either going under or struggling…delayed paychecks would be a clear sign that it’s time to jump ship. I know you are optimistic (equity stake at sale?! hmmmm), but please don’t put your family in jeopardy due to hope of something that might not materialize.


47 Karmella September 22, 2010 at 12:31 pm

This sucks!!

WTF with the 8:30a – and the rest of it! But the 8:30a is a daily kick in the butt reminder.

:( :(


48 StackingCash September 22, 2010 at 1:39 pm

I was always so jealous of your job benefits. However, I’m truly sorry about your loss. I went through similar cuts 2 years ago. It just strengthened my resolve to become financially independent. What doesn’t kill you does tend to make you stronger.


49 FrugalRichLife September 22, 2010 at 2:05 pm

It does suck balls that you lost your 401K and you gotta pay health insurance. At least now you can max out your Roth IRA annually (tax free when you’re old and gray on a limited income). Possibly consider getting a traditional IRA going (did someone say tax deduction?), especially if you’ve already maxed out your Roth IRA. If it makes you feel any better, I get to work at 7am :P


50 Sallie's Niece September 22, 2010 at 4:32 pm

Dude this sucks. Are you at a startup? That sort of sounds like what happened to my sister back in the crazy Internet boom days.


51 MrsADS September 22, 2010 at 7:33 pm

I don’t understand changing the start time. The rest make sense for increasing a company’s bottom line, but changing the start time seems rather arbitrary and not exactly a way of keeping morale high while taking away all these other perks.

Anyway, sure it’s great just to be employed right now but that doesn’t mean that losing perks doesn’t suck. Sorry!


52 michelle September 22, 2010 at 7:54 pm

boo boo boo. i feel the same way about our benefits changes. our company was bought out a few years ago, and the “big transition” finally occurred at the end of 08. while our benefits weren’t as awesome as yours ;), they were pretty decent. having worked in HR before the transition, it pained me to talk about how good the changes were when i totally didn’t believe that was true. it does have it’s advantages, but the disadvantages are harder on me, personally… *sigh* i hope the changes don’t ding your awesome goals too much in the grand scheme :)


53 J. Money September 22, 2010 at 10:24 pm

@Julie – Yeah, tell me about it. It’s pretty obvious everyone left is just here for the paycheck now, it’s sad. We all really cared and were passionate about the company, now we’re just trying to get through the days…
@Bryan – I’m not saying I don’t appreciate all that free money, I’m just saying it sucks now ;) It’s altering too many variables (for the worse) at the same time. Would be like if you had to come in at 3 a.m. now and lost 10% of your salary even if you were totally happy there. But I do get what you’re saying. And glad you enjoy the blog :)
@Mary S. – Hah! That’s the truth. I took mine out when I worked for the airlines but then forgot to put back in once I started working for this startup…. maybe I’ll do that tomorrow?
@LB – I’m complaining because it’s a huge change. The opposite of how you would feel if you got all your health insurnace paid for, as well as 3 weeks of vacay and a 10% pay raise. Wouldn’t that make you happy? But then what if it was taken away from you? You might appreciate the chance of having it all (like I do), but you’d still be upset – it’s natural.
@mbhunter – I can’t talk about it much, but no I haven’t gotten all that I’m owed yet. Hoping to clear it up soon :)
@Steve – Haha… DC is certainly a good place for that too.
@FinEngr – Hey, who’s side are you on? ;)
@tom – It’s most def. time to work on the next step, but I don’t think a resume will have anything to do with it ;) It’ll be first about my online ventures full-time, and then using twitter/facebook/this blog to get side projects. It would take a lot for me to go back to a 9-5, but ya never know. Family has to come first, right?
@Michelle – Oh for sure, this brain here is workin’ up plans regardless of what ends up happening at this place. We’re a very small company so I usually hear everything before it happens, even if I don’t let on here on the blog.
@Karmella – I showed up late today… but I’m really trying hard to get in the rythm.
@StackingCash – I’ll be learning that first hand :)
@FrugalRichLife – True, the IRA is def. on the list, but it already has been for 2 years now (been maxing that out as well as the 401k). I guess I’ll just have to find out new places for the money….although I’ll have less of it to invest now unless some changes happen.
@Sallie’s Niece – Yup, startup. I like your sister already :)
@MrsADS – I know, right? The start time, from what I’ve been told, is to “act like a real company” now. Basically to be a corporation, even though we’re not one – we’re a startup. Would be one thing if phones were ringing super early but they’re not. Oh well… I’ll live.
@michelle – Thanks :) they’ll only mess me up in the short term, and at this rate they’ll probably get me to go out on my own faster now! So that’s kinda good. that’s cool you were in HR, I find that dept kinda fascinating for some reason.


54 myfinancialobjectives September 23, 2010 at 10:52 am

Holy crap! Your company sounded amazing before!! I just read your other post as well, and seriously J, that was absolutely amazing!! Hpefully you will get used to the new start time.. I still have not gotten used to being at work by 7am… I don’t think I ever will:(


55 Mary S. September 23, 2010 at 11:09 am

oh no – the change in start time has me coming back here for more! Was it stated (in some form) that the earlier, standardized start time was to operate more like a ‘real’ business? Cuz – that whole phrase ‘real business’ makes me cringe – like a teeny weenie saying ‘i’m a big boy/girl now”…. if working as a team – having overlapping hours (many places use scrum or other types of stand up meetings, etc. are needed to run more efficiently – well that’s a better reason. If it’s just window dressing to make the place look like a ‘real’ company and most folks work independently. – it just doesn’t make sense and is bad for morale which is bad for the organization.


56 J. Money September 23, 2010 at 12:42 pm

It was said orally, but yeah – pretty much for show as far as I can tell. I mean, I will admit I have been getting more done lately, but that would have happened anyways w/ just less distractions (facebook, this blog, twitter, email, etc etc). The thing is we all get our work done every day, so to me as long as that’s happening and the phones aren’t ringing that early, it shouldn’t matter.

But whatever, I’m not a CEO. If that’s the ship he wants to run, so it goes. Just hope he has lots of life drafts around…


57 HenryTalksMoney September 23, 2010 at 7:16 pm

Sorry to hear that J. That 100% match was ridiculously sweet. What happens to your 401k account now? Does it just stay there until you can roll it over to another one, does it convert to an IRA, or do you just cash out?


58 Len Penzo September 25, 2010 at 1:39 pm

Welcome to the real world, J! Although the complete 401k loss IS harsh. With perks like that it’s a wonder your company was even turning a profit. But, yeah, I’m just a little bit bitter I never got perks like that. ;-)


Len Penzo dot Com


59 J. Money September 25, 2010 at 5:48 pm

@HenryTalksMoney – I think there will be a few options actually (keep there, rollover to another, convert to IRA) but as soon as it’s all finalized I’ll be converting it into an IRA. That way I can choose where the $ goes rather than the crap a$$ ones it’s all in now. That’s really the only upside to this whole thing.
@Len Penzo – Went from earning millions to spending millions – gets you ever time ;)


60 Sean September 26, 2010 at 12:38 pm

At least you can quit your job. Trying working 6 to 6, getting shot at, and being gone for a year+ at a time. I have to admit the free health insurance is pretty sweet, so is the 30 days of leave a year. Just wish uncle sam would match my TSP.

Sorry to hear about your Starbucks card. Eight O’Clock Coffee and a 20 dollar coffee pot get me going for about 5 bucks a week.

Its a good thing I like what I do… most of the time at least.



61 J. Money September 26, 2010 at 10:59 pm

Holy crap, tell me you’re in the military or you’re a cop? :) If you are, would love to hear more! Could even do some sort of guest post? I find jobs like that incredibly interesting since I have never experienced them.


62 JB September 28, 2010 at 1:56 am

You had great benefits but that’s wayyy too many changes for any company to make at once (regardless how sweet they were) and not think that people will be job hunting the next day or generally dissatisfied. Even my poor non-profit offers us a 403(b), just no matching. They should at least offer you all the 401(k) option to invest. Sounds like they are getting scroogey!


63 ctreit September 28, 2010 at 6:03 am

No Starbucks card AND getting to the office at 8:30? Another double whammy for you. Sorry to read about this. Time to move to Europe?


64 Kandi September 29, 2010 at 9:55 am

I am sorry BUT. I am a nurse and our start time is 5 AM. We have never had one of the benefits you are now losing. All I can say is Welcome to planet Earth.


65 J. Money September 29, 2010 at 8:23 pm

@JB – Scrooge is def. a good way to put it… at least it’s good for the company though… some minor win, right?
@ctreit – I would love to move to Europe for a while and check it out – don’t tempt me! :)
@Kandi – Yeah, but I’m sure you have lots of other benefits that you’d be pissed about if you lost them. You’re saying you wouldn’t complain if you had to do double the work and take a 10% pay cut? I’m sure you would. We’re all in different situations, and we all bitch about something.


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