Employers agree it's time to get back on the track toretirement. Eighty percent say in a new survey they are planning torestore their company's 401(k) match this year.

"In the last 18 months, employees' 401(k) accounts took aserious financial hit due to the severe market downturn. Some ofthem also lost the additional retirement savings that their 401(k) employer matchprovided," explains Pamela Hess, director of retirement researchfor HewittAssociates, which conducted the survey of 162 mid- tolarge-sized U.S. companies representing 5.7 million employees.

"While there has been marked growth in 401(k) balances since themarket recovery began, we still see too many workers not saving andinvesting in a way that will help them achieve their retirementgoals. Employers are trying to do their part to help--which is whythey are restoring their matching contributions and offeringfeatures and tools that push workers to save more throughout theirworking years."

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.