Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.
The Markets March 30, 2010
GenCorp to Restart Match Contributions
GenCorp Inc. is reinstating the employer match feature for the 401(k) plan for non-union employees.
Reported by Rebecca Moore
The Sacramento Business Journal reported that starting with payroll in July, the company will contribute the reinstated match in cash rather than in stock. GenCorp estimates the cost of the match for the rest of this fiscal year to be about $5 million, according to the news report.
In December 2008, GenCorp Inc. announced it was freezing its defined benefit pension plan and suspending 401(k) plan match contributions for non-union employees (see “GenCorp Suspends Company Stock 401(k) Match Contribution”).
The Sacramento Business Journal said historically, GenCorp made a 100% match in company stock up to the first 3% of its employees’ contributions, and then a 50% match for the next 3% of employee contributions.
You Might Also Like:

Fidelity Reports 81% Plan Sponsor Satisfaction With Advisers
Survey results emphasize the importance of DC plan advisers in driving plan satisfaction and activity, according to Fidelity.

Retirement Planning for Diverse Populations
Experts discuss why taking into account the diversity of participant populations is crucial in evaluating and designing a workplace plan.

Adviser Product Partnerships
Schwab partners with Envestnet for cloud-based billing solution; AICPA and CIMA launch ESG fundamentals program for accountants; ShareBuilder 401k Waives...