Gannett freezes employee pensions

I work at a gannett shop. Every other Friday my company match goes into my 401k and every other Friday, I go in, pull it out and put it into what I want it to go into. They don't make you keep it in their stock. Now, if I had less frequent access, I'd be pissed, but I don't have that problem, so I don't care. So long as money is coming out of their pocket and into mine, it doesn't matter to me which route I take.

 

Bully for you! I'm actually surprised they don't make you hold it for 90 days or something, a pretty common snag.

 

UNLESS you have some sense that Gannett will eventually rebound out of this, and you want to keep buying low (on the match) and then riding it out until things rebound.

That assumes, of course, you've got the time to wait for it to rebound. And think it will.

 

You're not buying low on the match.

they are matching dollar for dollar (up to 5 percent) what you put in your 401k.

$100 of Gannett stock is worth $100 of real money. Just don't keep it in Gannett stock. Move it to the money market fund in the 401k.

 

I think what he's trying to say is that the stock is real low right now and keeping it is like buying a low stock because you see it as a good long-term investment. i, personally, dump asap because I don't see our stock rebounding in the future.