Kroger says 401k match going from 4% to 5%?

One of the newly joined employee posted his concern on the Kroger public forum.

While he stated: I have a 401k with Kroger and haven’t gotten a match. Then how are they going from 4% to 5%? Increasing Kroger’s dollar-for-dollar 401K retirement match from 4 percent to 5 percent of the workers’ salary. Expanding the employee 10 percent discount on house-brand goods across the country. It will also now offer employees additional discounts on general merchandise, home, apparel and jewellery. Adding $5 million in annual funding to Kroger’s Helping Hands program for employees facing hardships.

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According to your concern regarding the retirement benefits offered by the Kroger company. Let us clear your vision regarding the 401k benefit offered by Kroger.

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The Kroger 401(k) Investments Explanation Plan is a well-defined involvement plan. This type of plan generally creates an account for each individual participant in which a set amount is contributed by the participant, the employer, or both.  While with the Kroger 401(k) retirement plan. Because each Retirement Date Fund is designed primarily as a “one-choice” investment portfolio based on a single “target” retirement age, investing in more than one may not be your best investment strategy.

You can contact your HR management regarding the changes and upgrade updates. Or you can simply log into greatpeople.com and check your 401k status. If you have more questions regarding the retirement plans at Kroger. Feel free to reach out to us in the comment section below.

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