Weyerhaeuser Suspends 401(k) Match

Weyerhaeuser Co. said it approved the temporary suspension of 401(k) matching contributions for all employees.

Reuters reported the company announced in a filing that the suspension will begin May 1. The filing noted that as a result, named executive officers will not receive any match contributions.

Weyerhaeuser is the latest in a string of employers cutting match contributions in an effort to reduce costs (see “AARP Joins 401(k) Match Suspension List).