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Carmakers Restoring 401(k) Match

March 17, 2004
Related Topics: Latest News
It took a while, but 401(k) matches are slowly getting restored.

Ford, for example, is reinstating a partial match on 401(k) accounts for U.S. salaried employees, effective July 1. Ford matches 60 cents for each dollar, up to 5 percent of base pay. Ford’s also increasing the number of people who get bonuses.

Chrysler will resume 401(k) matches for 15,000 employees, according to the Detroit News. Chrysler matches 50 percent of each dollar, up to 6 percent of base pay.

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