Study: 401(k) matches a victim of recession — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
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Study: 401(k) matches a victim of recession

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On top of the declining value of their investments, many employees also saw their employers’ 401(k) matching contributions disappear during the recession.

A Grant Thornton survey found that 29% of companies reduced or intend to modify their contributions to employees’ 401(k) accounts. Of those employers, two-thirds have eliminated matching contributions altogether. Large employers were more likely than small employers to change plans.

The good news: A separate Watson Wyatt survey found that 25% of employers said they intend to restore some of those cuts in the next six months.

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