• 20 Mar 2009 at 1:27 PM

Unfounded Rumor Of The Afternoon, JPM Edition

By Bess Levin

We’re told that JPMorgan, perhaps anticipating the next bill out of Congress, just took away 401(k) matching, at least in asset management, though presumably firmwide.
Update: confirmed, across the board.

Comments (25)

  1. 1
    Posted by guest | March 20, 2009 at 1:31 PM

    not like anyone’s retiring anytime soon.

  2. 2
    Posted by guest | March 20, 2009 at 1:31 PM

    All departments!
    JD

  3. 3
    Posted by guest | March 20, 2009 at 1:34 PM

    All departments, however, I am not included as I have a 409A plan
    Jamie “Muscle Shirt” Dimon
    ps. any other Q’s, just email me at jdimon@jpm.com

  4. 4
    Posted by guest | March 20, 2009 at 1:39 PM

    Who’s relevant that gets a matching 401k contribution?
    Doesn’t 401k matching stop at $25k salary?

  5. 5
    Posted by guest | March 20, 2009 at 1:46 PM

    @4- no.
    idiot.

  6. 6
    Posted by guest | March 20, 2009 at 1:47 PM

    Match it with JP Morgan shit? Now no shit.

  7. 7
    Posted by guest | March 20, 2009 at 1:48 PM

    trish regan advocating marijuana legalization right now

  8. 8
    Posted by guest | March 20, 2009 at 1:49 PM

    @4 – no, jackass.

  9. 9
    Posted by guest | March 20, 2009 at 1:51 PM

    @7
    i’m smoking a bong, right now. marijuana is (for all intents and purposes) legal here in cali. great for laid off bankers.

  10. 10
    Posted by guest | March 20, 2009 at 1:54 PM

    4 is a god damn idiot.

  11. 11
    Posted by guest | March 20, 2009 at 2:03 PM

    Gotta go. It could count as part of a bonus.

  12. 12
    Posted by guest | March 20, 2009 at 2:03 PM

    4 Please change out your buttplug to a larger size before you post again.
    Thanks.

  13. 13
    Posted by guest | March 20, 2009 at 2:06 PM

    Email just went out. Now it’s official. As of may 1st, for those making btwn 50k and 250k will have not be matched per pay period, but instead matching (if any) will be assessed and credited at the end of the year.

  14. 14
    Posted by guest | March 20, 2009 at 2:07 PM

    Email just went out to employees. Now it’s official. As of may 1st, for those making btwn 50k and 250k will have not be matched per pay period, but instead matching (if any) will be assessed and credited at the end of the year.

  15. 15
    Posted by guest | March 20, 2009 at 2:14 PM

    Apparently #4 has never had a salary above $25K, or has never had an employer who matches 401k, or both . . .

  16. 16
    Posted by guest | March 20, 2009 at 2:15 PM

    @14,
    those making > 250K will have to line up so that Big O and the rest of the Hill Posse can spank that ass.

  17. 17
    Posted by guest | March 20, 2009 at 2:16 PM

    #4 needs to go back to studying for his GED instead of posting on Dealbreaker. Even if he’s going to skip community college and go straight to work as a ditch-digger or a gay porn fluffer, he still needs some basic numeracy skills.

  18. 18
    Posted by guest | March 20, 2009 at 2:28 PM

    @16
    those making more than 250k did not have matching before, and that will still be the case. Making less than 50k will still get up to 5% matching.

  19. 19
    Posted by guest | March 20, 2009 at 3:41 PM

    maybe if you promise to invest it in a vegetable garden O will forgive you

  20. 20
    Posted by guest | March 20, 2009 at 3:41 PM

    There hasn’t been matching for those making over $250K for many years.

  21. 21
    Posted by guest | March 20, 2009 at 3:42 PM

    Of course that $250K included bonus. Now that none of us will get bonuses, we were counting on that match again.

  22. 22
    Posted by guest | March 20, 2009 at 3:47 PM

    @18- yeah and 50-250k get shafted.

  23. 23
    Posted by HeadlessHorseman | March 20, 2009 at 4:49 PM

    Nice.
    It’s a sad state of affairs when my Friday afternoon is characterized by JPM (figuratively) fucking my fiancee before I get to (literally) when we get home tonight. That Jamie Dimon sure is a quick study.
    It’s confirmed firmwide (didn’t see that mentioned in any of the above posts).

  24. 24
    Posted by guest | March 20, 2009 at 5:22 PM

    Firm wide, just got the e-mail. They will still match dollar per dollar for those under 50K. However it will be done at the end of the year.

  25. 25
    Posted by guest | March 20, 2009 at 7:37 PM

    You’ll all be thankful at year’s end when the Dow is sucking wind at 5k.

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