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.
Tag: Plan design
A New York oscilloscope maker is the latest employer to put its 401(k) match on hold as part of a cost-cutting effort.
In contrast to most recent news reports regarding employer matching contributions, Louisville, Kentucky-based Republic Bank has increased its 401(k) match.
An unconfirmed memo by NCR Corp.’s CEO said effective immediately the company will reduce its employer match for 401(k) plan participants.
GateHouse Media has become the latest company to suspend its 401(k) match, according to a report in Editor&Publisher.
Here’s a headline you won’t see this week: “Nobody Cut Their 401(k) Match Today.″
Sears has announced that it is suspending its 401(k) match for most employees of the giant retailer.
The latest 401(k) match to fall in recent months came at The Denver Post newspaper where managers and other non-union employees were informed their match would be suspended in 2009.
The volatile economy has increased the urgency behind this year’s terminated plan season.
A recent survey of small business owners by SurePayroll found that only one-third of small businesses currently offer 401(k) plans to their employees, and 45% of small business owners do not offer any type of retirement savings plan.
The new year ushered in some important provisions that directly affect qualified retirement plans.
The Supreme Court’s recent 401(k) ruling should be a warning.
Despite current economic strains, ShareBuilder reports surging sales of small business 401(k) plans.
The majority of retirement plan expenses are paid by the plan sponsor, but many plan sponsors do not review the fees paid to their adviser, a recent survey said.
401(k) plan sponsors have a genuine interest in helping participants, says Cynthia Egan, President of T. Rowe Price Retirement Plan Services.
Nearly half (47%) of small business owners who do not currently offer a 401(k) said they never intend to offer one, according to a recent survey.
Nearly two-thirds (62%) of micro-business owners say the cost of administering and contributing to a retirement plan is the biggest hurdle to offering them.
According to Fred Reish, there are three main components to a successful retirement plan.
The fund giant will instead offer a richer 401(k) match and an annual credit to a health savings plan.
A new Hewitt Associates study of large US company retirement plans found that 43% offer, or are very likely to offer, third-party investment advisory services in the coming year.