How many companies have restored their 401(k) match?
During the worst of the recession, many employers stopped matching employees’ 401(k) contributions. Is that still the case?
The vast majority (75%) of employers that suspended their 401(k) match have reinstated it, according to new research from Towers Watson.
What’s more, the study also found that 74% of those employers have restored their 401(k) match to its previous level.
The most common 401(k) match (before and after the suspension) was 50% of employees’ contribution up to 6% of their pay.
The Towers Watson study said the median time frame for the match suspensions was 12 months.
Readers, does your company match employees’ 401(k) contributions? Let us know in the Comments section.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Further Reading
Instant payouts are replacing traditional paychecks for millions of workers, according to a new PYMENTS Intelligence Report titled “Insta...
Some of your year-end health plan responsibilities have lifted, thanks to eleventh-hour legislation from Congress. Plan sponsors that me...
401(k) investment plans remain one of the best ways for Americans who are living well into their 70s and 80s to afford retirement. After al...
What company wouldn’t opt for an employee benefit that helps new families out and pays for itself in various ways? A recent report on...
Year after year, surveys show about half of all employees don’t tap their allotted personal time off (PTO). While some companies allo...
Employee experience – including employee mental health – has become a higher priority for many organizations, according to rese...
