81.5 Percent of Employers Continue or Raise Level of Matching Contributions to 401(k) Plans
Four out of five employers have maintained or increased their matching and non-matching contributions to their 401(k) plans during the Great Recession of 2008 and 2009, according to the Profit Sharing /401(k) Council of America. And, nearly half of all employers who reduced or suspended their match have either already restored the match or plan to restore it by the end of the next quarter. By Robert Stowe England December 8, 2009 The Chicago-based Profit Sharing / 401(k) Council of America surveyed employers who sponsor 401(k) and profit sharing plans in October and found that 76.8 percent made no changes to their matching contributions in 2008 and 2009, compared to the end of 2007. An additional 4.7 percent of plan sponsors increased the employer match, bringing the share of surveyed companies that either maintained or increased their match to 81.5 percent. Further, of 264 companies that offered a non-matching company contribution -- where the employer makes a contribution to the plan...