Apparently workers aren’t the only ones worried about retirement.
Tag: Plan design
Despite the tumultuous environment, most plan sponsors seem to be committed to staying the course, at least for now.
A Hewitt Associates study found plan sponsors could save as much as $25 million by cutting the 401(k) match, but it could also hurt participants' savings.
Just more than a third of U.S. employers responding to a recent survey said they have cut back or cut out their defined contribution plan match since January 2008.
Plan sponsors and employees see some retirement concerns differently—including access to financial advice, a new study by MetLife suggested.
Contributions to 401(k) plans went up nearly 1% since 1988, according to the Employee Benefit Research Institute (EBRI).
A new survey by two workplace benefits groups found 74% of participating firms haven’t changed their 401(k) match.
A survey published this past week by Fidelity noted that workers cited health insurance, retirement savings plan matching contributions, and dental insurance as the three most important benefits, with health insurance ranking as No. 1.
Advisers can help plan sponsors determine whether cutting the employer match contribution is necessary—and also help communicate changes to participants.
A couple of months ago, I started getting e-mails from readers curious about the announcements of plans reducing and/or suspending their matching contributions.
Many companies are looking for ways to lower the costs of their retirement benefits while still encouraging their workers to invest wisely for retirement, according to a survey by Hewitt Associates.
While media accounts may be full of reports of employer decisions to suspend their retirement plan company match contributions, 73% of DC plan sponsors in a new survey plan no match changes.
Citing an “extremely tough business climate in 2009,″ Richmond, Virginia-based Media General said it will stop matching employee deferrals to its 401(k) retirement plans starting April 1.
Advanced Micro Devices Inc., a maker of computer chips, said it is suspending its 401(k) match because of a decline in demand for computers.
Upscale retailer Saks has joined a host of U.S. employers in suspending its 401(k) match as part of a broad $50-million to $60-million cost-cutting campaign that includes axing about 1,100 jobs.
Rollover platform provider RolloverSystems Inc. has published a best practices guide for plan sponsors who are contemplating a 401(k) plan termination.
Auto-parts supplier Visteon Corp. announced it would suspend its 401(k) match as well as its salary increases in the face of slumping sales.
An Atlanta-based industrial-cleaning chemicals company became the latest employer to call a temporary halt to its 401(k) match in a cost-cutting drive.
The Mohegan Tribal Gaming Authority has announced it will suspend future annual and merit pay raises and stop company match contributions to its 401(k) retirement plans.
A New York oscilloscope maker is the latest employer to put its 401(k) match on hold as part of a cost-cutting effort.