Originally Posted by iguanaman
No they are not, the story is misleading.
Let me explain how 401(k) contributions work.
1. Company selects a Fund Manager (could be MetLife, ING, Schwab, etc...).
2. The employee enrolls for payroll deduction from their pay that is deducted and transferred to the Fund Manager who then deposits the money in their "account" and the investments are then made based on the fund families that the investor selects based on the financial planning goals.
3. As part of the compensation of the employee the company can chose to match some (based on a percent, dollar amount, or none at all) the employee contribution. Those funds are paid the the employee and distributed to the Fund Manager who then invests it from the investors account in the funds the investor selected.
The Company (Hobby Lobby) does not do any investing, the pay the employees who becomes the investor and it is their money deposited in the Fund Managers account as an investor.
Saying it's Hobby Lobby's money being invested is false, it's like saying the Hobby Lobby buys beer because they pay me wages and after work I stop at a 7-11 and buy a six-pack of Bud Lite.