http://www.statesman.com/news/nation/post-office-suspends-retirement-contributions-1554997.html
But what they forget is that the Right thinks that we should run government agencies like corporations. Well, guess what; back in 2009 when the recession was starting to really hit hard, our company, Siemens (at least for the employees in the US, which is the only place that they could legally get away with this), announced that they were suspending all company contributions to our 401k's for a minimum of 18 months. Employee contributions would continue, but the corporate matching would stop. Now at the time I never saw a single item in the mainstream media or the Drudge Report (which is where I found the item above) which touted in RED headlines that:
"Siemens Corporation Halts Retirement Contributions for Employees"
And I'll bet that Siemens was NOT the only American corporation to take advantage of the fact that they could legally get away with doing this.
BTW, for the record, after only 15 months the company reinstated the matching contributions and so we are back to normal, but they never made up what we lost, that was just part of our contribution to helping the company 'weather the storm' and now that business is picking up again (and it is as we just finished one our best quarters ever and are on track to exceeding our plans which were set higher than what we did last year) our benefits are back to their normal levels, including merit increases and annual performance bonuses.
OCU
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