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Personal Finance (Not Investing) • New Job and Retirement contribution cut

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I took a new job and liked the retirement contribution they outlined in the benefit guide of 8% without having to put in any match. After a few weeks of starting, we had a meeting with HR to go over some issues since we are a small group in my division. It turned out the others had not been getting the the 8% for awhile and some didn't even noticed it was incorrect for awhile. HR acknowledged this was already a known issue before I got hired and stated a few weeks later the benefit guides was wrong and they would be changing it to 6%. They would backpay everyone to the correct amount but starting last month it would change to 6% going forward.

In my contract it states to refer to the benefit guide for retirement contribution and at their digression could change the benefits in the guide at anytime. Oblivious my colleagues and I are upset since we are getting less compensation. For my situation I feel since HR already knew the benefits guide was wrong and didn't correct it when they sent it to me or even before I signed the contract they are not acting in good faith.

I am trying to decide how to handle this and what to say if I write an email to HR.

Statistics: Posted by Polar_Ice — Wed Aug 21, 2024 4:42 pm



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