Small Businesses Considering Eliminating 401(k) Match
Nearly half of small businesses said they may have to reduce or stop matching contributions.
Comments 0 | Recommend 0
June 8, 2009
Small Businesses Considering Eliminating 401(k) Match
Nearly half of small businesses said they may have to reduce or stop matching
contributions.
A small company was defined as having five to 250 employees. To qualify for
the survey, respondents had to have offered a 401(k) retirement plan for at
least one year and have between $500,000 and $10 million in retirement plan
assets.
Some 31 percent of respondents ranked providing employees with investment
education as their top concern; 29 percent selected fiduciary and legal
responsibilities as the top concern; and 21 percent chose the selection and
monitoring of retirement plan investment options.
A full 74 percent said that they valued an investment advisor’s ability to
help them meet the legal responsibilities associated with offering a retirement
plan.
The survey of 401 respondents was conducted by telephone interviews between
December and March.
Guidelines: Comments that include profanity or personal attacks or other inappropriate comments or material will be removed
from the site. We will take steps to block users who violate any of our posting standards, terms of use or privacy policies
or any other policies governing this site. You are fully responsible for the content you post.
If you enjoy the content on the Workforce Management Web site and want to see more, try 3 issues of our print edition risk-free. If you wish to continue, you will receive one full year for just $79. That's over 59% off the cover price. If you decide Workforce Management is not for you, just write "Cancel" on the invoice, return it and owe nothing. The 3 issues are yours to keep with no further obligation to us. Sign up below.
Offer valid for new Workforce Management Subscribers only.
Canada subscribers - $129. All other Foreign - $199.
= Member Only
