Increasing Number of Employers Plan to Reverse Reductions of 401k Match

In a press release dated October 28, 2009, Watson Wyatt reported that a recent survey found an increasing number of employers are planning to reverse reductions to 401k match contributions in the next six months -- this number has increased to 35 percent, from 24 percent two months ago and only 5 percent in June.

They also noted that for companies expecting to reinstate their 401k or 403(b) match, 70 percent will change it back to the original level. Thirteen percent will reinstate the match at a new, lower level, while 17 percent will vary it by year, based on company profits.

--- Rick Meigs, Publisher

###

Click here for more material dealing with current trends, opinion, news, legislative action, investments, marketing, sales, consulting, and legal issues on 401k plans.