End of 401(k) Match Sparks New Strategies

More than 80 companies, including Ford(F Quote), Starbucks(SBUX Quote) and FedEx(FDX Quote), have reduced or eliminated matching contributions to employees' 401(k)s plans since June 2008, according to the Pension Rights Center. And that list gets longer every day. In one week in February alone, it grew by more than 15 companies.

That's causing a lot of anxiety, as hundreds of thousands of workers take a hard look at their 401(k)s and re-evaluate their retirement saving strategies. So what should you do if your employer cuts its matching contributions? Here are six points to keep in mind.

1. Remember the goal: First, it's important to remember that you're saving for the long term, not the short term. A 401(k) is a retirement-savings program, and your goal is to ensure your retirement security. That hasn't changed. Your first instinct may be to stop making contributions to your 401(k), but that would be the wrong approach. Even without an employer's contributions, a 401(k) has a number of benefits that continue to make it a viable savings plan and an important part of your financial future. ...