Effective 1/1/2026, UHG/Optum/UHC will reduce the maximum for their 401K match from 4.5% to 3.5%.
In case anyone was wondering if they're trying to get employees to give up and leave.
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I think we all can agree this companies priorities are, in order:
1) Shareholders
2) Board (which are some of the biggest shareholders)
3) C-Suite (which are hefty shareholders)
4) Their assets (offices, clinics, etc)
5) Media
6a) Providers
6b) Patients
7) Employees
@dy The 1% reduction in the max 401K "match" is actually a 22% reduction in what the company pays toward your retirement fund. Unless you aren't contributing 6% to your 401K, it's effectively a 1% cut in your overall pay.
I am so glad to be gone from there. Do yourself a favor...get out as soon as you can. If their actions over the last few years don't tell you anything...you aren't listening.
Automobile maintenance to drive long distances 4 days a week plus 1% cut to 401k is likely a 3-4% pay decrease. Add in my expensive benefits with worse deductibles.
It would be easy to look at this as a nothingburger, since "It's just 1% and it only impacts the 401K." But the 401K (partial) match is what the company provides in place of a pension (look it up). The change was benignly announced as "An Update to the 401K Savings Plan," which is what we normally see for trivial changes such as the Fidelity Global Growth ABC fund being replaced by the Fidelity Global Growth XYZ fund. Not this time. This is a 22% cut in the company's contribution to your retirement account and effectively a 1% cut in your pay!
Funny, I said this to leadership this week as well.
I'm glad to be leaving Optum in just a few weeks. The only thing I'll miss is the annual survey, which asked employees to respond to statements such as "I feel proud to work for our Company," "I am treated fairly at work" and "People I work with care about my personal well-being." Responses supposedly "drive meaningful change for you, your colleagues and the entire organization." The survey used to be worth a chuckle but these days it's more of a full belly laugh. The RTO mandate and reduced 401K match are just the latest slap in the face. Good riddance.
They are definitely doing it on purpose to force as many people to quit as they can so they can offshore your job… I honestly think that working at this company is NOT worth it at all anymore, it’s been going downhill fast and I think next year will be worse...I’m cutting my losses and quitting for a better opportunity elsewhere…
My raise last year for a '4' was not even enough to buy a happy meal a paycheck. That is why my personal goals for 2025 included to "Stay breathing". America is going into the dumpster due to corporate greed.