I was loyal to my company for 7 years and regret it. I left with debt and without a 401(k).

"When I started my career at a boutique PR and communications firm in the Southwest, I did everything by the book. I stayed loyal to one company, earned my MBA, climbed my way up from intern to vice president, and believed that if I just worked hard enough, followed the rules, and proved my worth, I could build a future for my family and me that offered financial freedom and job security all the way to retirement."

"Seven years later, when I was preparing to leave the firm, I reviewed my financial accounts, and I realized my 401(k) balance hadn't changed from $0. Confused, I called the provider and learned that my account existed, it was open and on file, but no contributions had ever been deposited. At the time, I was a young professional and didn't realize how closely I should've been monitoring my retirement contributions. I assumed everything had been set up correctly after my enrollment meeting."

Andie Mercer began her career at a boutique PR and communications firm in the Southwest, advancing from intern to vice president while earning an MBA and remaining loyal to one employer. She completed onboarding paperwork in 2017, checked the box to enroll in the company's 401(k), and set a 3% contribution to receive the full match. Upon leaving in 2023 she discovered the 401(k) account had a zero balance; the account existed but no employee or employer contributions had ever been deposited and no clear explanation was given. She also signed a restrictive non-compete that temporarily prevented employment within her state, leaving her with debt, no retirement savings, and curtailed career options. She wishes she had questioned workplace norms and advocated for her rights.

Read at Business Insider