DES MOINES, Iowa (AP) — Most of the companies that either suspended or reduced their 401(k) matches during the economic downturn have reinstated them, business consultant Towers Watson said in a study released Wednesday.
An analysis of 260 mid- to large-sized companies shows that 75 percent of those that took the step to cut costs have restored their match. Among those, about 74 percent are continuing the match at the previous level.
About 23 percent brought matches back at a lower rate. Among these companies, the reinstated match was slightly more than half of their original contribution.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
