WTF!? did my employer just auto enroll me into retirement plan?

[luniac]

People does anyone know wtf this is? i just got it in the mail this chilly sunday afternoon... was just ready to exercise, shower and go about my business when this shit just derailed my day!

WTF is Voya!?!?

WTF is 2473 Vanguard Trgt Retire 2055 Fnd Inv

WTF does it mean "100% election"

Gotta wait till monday to talk to a representative as it says on the bottom...

I went to www.voyaretirementplans.com and i need to register lol... wtf is this BS!!!

On the site and on the phone i was asked to enter my social security number to log in or something, is this a real company? Safe to do it?

I already canceled my 401k when i first got the job 2 years ago before it even started, now they wanna pester me with more slowlane bs... wtf man!!! i didn't ask for this!

 

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[AgainstAllOdds]

Talk to HR. No one here can fully answer your questions.

But until tomorrow, just go about your day. You have 0 control over that today.

 

[luniac]

yes sir.

 

[Mattie]

It's a piece of mail and it threw your day off? Even if your company wants you to enroll, you have the power to say no! Why get upset about it.

 

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[luniac]

Derailed may have been too strong a word lol im good.

 

[biophase]

People does anyone know wtf this is? i just got it in the mail this chilly sunday afternoon... was just ready to exercise, shower and go about my business when this shit just derailed my day!

WTF is Voya!?!?

WTF is 2473 Vanguard Trgt Retire 2055 Fnd Inv

WTF does it mean "100% election"

Gotta wait till monday to talk to a representative as it says on the bottom...

I went to www.voyaretirementplans.com and i need to register lol... wtf is this BS!!!

On the site and on the phone i was asked to enter my social security number to log in or something, is this a real company? Safe to do it?

I already canceled my 401k when i first got the job 2 years ago before it even started, now they wanna pester me with more slowlane bs... wtf man!!! i didn't ask for this!
View attachment 10712

All this means is that if you decided to contribute into your retirement plan, 100% of your contributions are going into that fund.

Most likely what happened is that your company switched their 401k provider and the choices of funds changed. So then they pick one that all your contributions would go into. I'm sure you have a choice of funds, so this means that everything you invest will go there. If you are invest 0% then it doesn't matter.

 

[MakeMoreMoves]

My job has an auto enroll if you don't do anything. Because to them it is free money. They automatically match the %. But yeah made me think. I just started a business but putting like 12% into retirement. Feel dumb doing it, but it's my safety plan in case the entrepreneur thing doesn't work

 

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[eliquid]

This is pretty much commonplace now to have you auto-enrolled. You have to now opt-out instead of opting in.

Employers make money off retirement plans. Trust in that.

 

[jon.a]

This is pretty much commonplace now to have you auto-enrolled. You have to now opt-out instead of opting in.

Employers make money off retirement plans. Trust in that.

The highly paid employees need enough rank in file employees to play so they can too.

 

[jon.a]

The highly paid employees need enough rank in file employees to play so they can too.

https://en.wikipedia.org/wiki/401(k)#Highly_compensated_employees_.28HCE.29

 

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[luniac]

My job has an auto enroll if you don't do anything. Because to them it is free money. They automatically match the %. But yeah made me think. I just started a business but putting like 12% into retirement. Feel dumb doing it, but it's my safety plan in case the entrepreneur thing doesn't work

I don't have a backup plan, its do or die.


anyways ill call tomorrow to confirm about this. Like i said i canceled my 401k before it even began.

 

[Bouncing Soul]

https://en.wikipedia.org/wiki/401(k)#Highly_compensated_employees_.28HCE.29

Exactly. However, for slowlaners, and especially sidewalkers, the auto enroll is of significant value to them so it is not necessarily a bad incentive for the HCEs to set this up for the plebes.

 

[luniac]

well i called them up, its what biophase said. All good.

 

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[MadStacks]

People does anyone know wtf this is? i just got it in the mail this chilly sunday afternoon... was just ready to exercise, shower and go about my business when this shit just derailed my day!

WTF is Voya!?!?

WTF is 2473 Vanguard Trgt Retire 2055 Fnd Inv

WTF does it mean "100% election"

Gotta wait till monday to talk to a representative as it says on the bottom...

I went to www.voyaretirementplans.com and i need to register lol... wtf is this BS!!!

On the site and on the phone i was asked to enter my social security number to log in or something, is this a real company? Safe to do it?

I already canceled my 401k when i first got the job 2 years ago before it even started, now they wanna pester me with more slowlane bs... wtf man!!! i didn't ask for this!
View attachment 10712

voya is ING. they changed names

 

[Mineralogic]

this is how the system enforced a financial "new world order". Everyone is invested in the FED and Treasury Machine which includes Public Stock Investing

 

[GIlman]

There is nothing wrong with saving by your employer retirement plan, if it's a matched contribution it is smart up to the limit of their contribution. I mean if you put in $1 and your employer matches that you have 100% interest at time zero. Think of it this way, if the market drops by 1/2, you are still even since the 1/2 lost was money from your employer u would not have had otherwise. It's free investment insurance to you.

If a few percent of your paycheck is going to kill you, you probably need to assess your spending in general.

BUT..you should not rely on it, or any other single thing. Think of it as diversification, not a savior to retirement, these people are at enormous risk...you don't want to be one of these people with all ur eggs in one basket.

Then bust your butt, and make your business a reality. Your retirement will still be an asset, just not a major one in relation to your other financial resources.


Sent from my iPhone using Tapatalk

 

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[ToniLene]

I don't have a backup plan, its do or die.


anyways ill call tomorrow to confirm about this. Like i said i canceled my 401k before it even began.

Smart business people have 20 back up plans, lol. There is no such thing as 'do or die' unless you're already over the cliff. Plans change, markets change, so having a backup plan makes you otherwise known as a rational adult. No shame in it.

 

[qu1ksilver]

Smart business people have 20 back up plans, lol. There is no such thing as 'do or die' unless you're already over the cliff. Plans change, markets change, so having a backup plan makes you otherwise known as a rational adult. No shame in it.

Completely agree. There is a distinct difference between being committed and being prepared. The two aren't mutually exclusive

 

[luniac]

nope im good, i don't want any part in any 401k, retirements, etc etc plans and whatnot.
All my eggs are in the fastlane basket, i don't see any other basket worth touching.

If i don't make it then so be it ill die broke and hungry under the interstate bridge with a smile on my face, because at least i tried.

 

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[Michael W.]

nope im good, i don't want any part in any 401k, retirements, etc etc plans and whatnot.
All my eggs are in the fastlane basket, i don't see any other basket worth touching.

If i don't make it then so be it ill die broke and hungry under the interstate bridge with a smile on my face, because at least i tried.

Lol. Wow. Just. Wow. Wow.

 

[Michael W.]

There is nothing wrong with saving by your employer retirement plan, if it's a matched contribution it is smart up to the limit of their contribution. I mean if you put in $1 and your employer matches that you have 100% interest at time zero. Think of it this way, if the market drops by 1/2, you are still even since the 1/2 lost was money from your employer u would not have had otherwise. It's free investment insurance to you.

If a few percent of your paycheck is going to kill you, you probably need to assess your spending in general.

BUT..you should not rely on it, or any other single thing. Think of it as diversification, not a savior to retirement, these people are at enormous risk...you don't want to be one of these people with all ur eggs in one basket.

Then bust your butt, and make your business a reality. Your retirement will still be an asset, just not a major one in relation to your other financial resources.


Sent from my iPhone using Tapatalk

Thank you for this.