If you are a TTEC (NASDAQ) employee in your early 60s, the letter that landed in April probably felt like a punch. The Austin-based company, which employs roughly 16,000 U.S. workers, paused its 401(k) match for U.S. staff, according to an April 30 memo. The interruption is expected to last nine months, and the company hopes to resume its 3% match “if our business performance supports it.”
Consider a common example. Daniel is 61, earns $75,000 a year, and expects to retire in five years. Nine months without the full match costs him roughly $1,688 before any investment growth. His question is what to do next: increase contributions, use the enhanced catch-up limit if he is already maxing the plan, hold onto cash, or work a little longer.
The most important lever may be the guaranteed income floor he has already spent decades building.
Why Social Security Suddenly Carries More Weight
When an employer match disappears, the part of retirement income that is not tied to markets or company decisions matters more. Social Security is that piece. It adjusts for inflation and lasts as long as the beneficiary does. The 2026 cost-of-living adjustment (COLA) came in at 2.8%.
The biggest lever he controls is when to claim. Starting at 62 instead of a full retirement age (FRA) of 67 can shrink the monthly check by 30%. Waiting past FRA adds about 8% per year until age 70. On a $2,400 benefit at FRA, that is the difference between roughly $1,680 a month at 62 and $2,976 at 70. The gap lasts for life and rises with future COLAs.
If the missing match tempts him to claim early, run that math twice. Nine months without a 3% match creates a real hole. Locking in a lower monthly benefit to fill it could create a much larger one.
The Catch-Up Window You Are Sitting Inside
Workers who turn 60, 61, 62, or 63 in 2026 can make an enhanced 401(k) catch-up contribution of $11,250, compared with the standard $8,000 catch-up for workers 50 and older. At 64, the enhanced limit disappears.
There is an important catch inside the catch-up: it matters only after the worker reaches the regular $24,500 contribution limit. Someone contributing less than that does not need the special rule to replace the missing match. He can simply raise his normal contribution rate, assuming the household budget has room.
One more wrinkle applies to higher earners. An employee who received more than $150,000 in FICA wages from the same employer during 2025 generally must make 2026 catch-up contributions as Roth contributions. There is no upfront tax deduction, but qualified withdrawals are tax-free later. That can help manage taxable income once Social Security and required minimum distributions enter the picture.
How the Pieces Fit Together
The match pause leaves three practical responses:
- Keep contributing. The 401(k)’s tax advantages remain, even without the employer match. If he is not yet contributing $24,500, raising the regular contribution rate is the first step.
- Use the enhanced catch-up if he is already maxing out. At ages 60 through 63, the $11,250 allowance can put total employee contributions as high as $35,750 in 2026.
- Protect the Social Security claiming age. Each month he waits between 62 and FRA reduces the early-filing haircut. After FRA, delayed credits add about 8% per year until 70.
Working a few extra months may also replace some of the lost match, shorten the retirement period his savings must cover, and potentially improve his Social Security record if the wages replace a lower year among his top 35.
What to Hold Onto
The match is scheduled to be paused for nine months, but the dollars missed during that period will not automatically appear later. TTEC has said only that it intends to resume contributions if business performance allows.
That makes the response important, but it does not make an early Social Security claim the answer. A worker at 61 still has time to raise contributions, use the enhanced catch-up if eligible, adjust the retirement date, or combine all three.
The cleanest first move is to calculate the actual employer dollars being lost. Then decide how much can be replaced without creating a cash-flow problem today. A plan administrator can confirm the contribution mechanics, while a Social Security estimate at 62, FRA, and 70 will show whether nine months of missing match is worth changing a lifetime claiming decision.
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