Employers cutting 401(k) match, survey shows - Denver Business Journal:

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The survey of companies nationwide found that 29 percen t havealready modified, or intend to the matching contribution feature in their plans during the 2009 plan year. Two-thirdw of those respondents — or 20 percentf of all respondents — say they will eliminat the match entirely. Grant Thortonh spokeswoman Sharon Whittle says the survey reveals that companies inthe health-caree and nonprofit industries were less likelg to make 401(k) changes this year.
Largwe employers and companies inthe technology, retail/tradde and financial-services/banking sectors were more likely to make “Companies are expecting 2009 to continue to be a challenginh year for business growth and financial Whittle says. “The impact on plans appears to be a greater consideration of andmore prudent, spending on matching contributions in order to address cash and profit constraints.” The survey was conducteds in April, with 283 Grant Thornton clienta participating.