Who's reinstating the 401(k) match — and who will soon?
The latest sign employers are optimistic about the year ahead: the return of the 401(k) match.
According to a recent Fidelity Investments survey, 27% of companies that suspended their 401(k) matches during the worst of the recession have reinstated the match — or plan to by the end of 2010.
And that number almost doubles when it comes to companies with larger 401(k) plans. For example, 44% of companies with over 5,000 participants planned to reinstate the 401(k) match.
Another interesting finding in the study: The speed in which companies are restoring their 401(k) matches is similar to the match reinstatement following the U.S. recession back in 2001 — a recession that lasted eight months.
Of course, the number of companies that have suspended their 401(k) match is relatively small. Of the 17,000 companies that Fidelity manages, only 8% suspended — or reduced — their 401(k) matches during the recession.
Do these findings seem consistent with what your company is doing? Let us know in the Comments Section.
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