DES MOINES, Iowa (AP) — Most of the companies that either suspended or reduced their 401(k) matches during the economic downturn have reinstated them, business consultant Towers Watson said in a study released Wednesday.
An analysis of 260 mid- to large-sized companies shows that 75 percent of those that took the step to cut costs have restored their match. Among those, about 74 percent are continuing the match at the previous level.
About 23 percent brought matches back at a lower rate. Among these companies, the reinstated match was slightly more than half of their original contribution.
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