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.
- Share on
Free Training & Resources
White Papers
Provided by Personify Health
Further Reading
What should you do if you mistakenly pay out too much for one of your employer-provided benefits, such as your retirement plan? Plan spo...
It’s that time of year again: Employer health insurance plans are up for renewal. For finance leaders, this period can feel like a lotter...
Finance rarely sees jury duty or bereavement as risk. They’re payroll line items. Until courts link them to USERRA military leave –...
There’s no need to panic if you or one of your staffers discover they’ve made mistakes with your company’s 401(k) plan.&nb...
Believe it or not, more than 80% of workers like their employers’ Paid Time Off (PTO) packages. But that doesn’t stop a surpris...
The IRS has announced updated health savings account (HSA) contribution limits and high-deductible health plan (HDHP) parameters for 2027, ...
