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.
