Students could see 401(k)s disappear

Economic pressure put on companies by the failing stock market has caused some companies to consider drastic measures to remain effective.

The measures these companies are taking could affect those are trying to obtain a 401(k).

"The first big issue is that companies are considering stopping 401(k)s," said Thomas Saving, professor in the Private Enterprise Research Center and Jeff Montgomery professor of economics at Texas A&M University.

A 401(k) is a plan for retirement someone at any job may opt to have. Stopping the 401(k)s is not the only issue companies face.

"The second big issue is that the individuals are going to try to utilize their 401(k)s and you can do that in several ways. You can borrow money from your 401(k) and pay it back. Now, if you do that, there are penalties in order to not go further into debt," Saving said.

The third issue, Saving said, is that the government is considering making 401(k)s government-run because of the mistakes people have made handling their own money.