This is a sign of the times – My wife’s employer also terminated their 401(k) match.
The below is an excerpt from the LINKed story.
About 2% of large employers have cut or suspended 401(k) matching contributions in the past few months, and 5% say they plan to do so this year.
Researchers at Hewitt Associates Inc., Lincolnshire, Ill., have published those figures in a summary of results from a recent survey of about 150 large and midsize employers.
It stands to reason – with the market jitters, I’d think that employees aren’t putting as much into the market anyway.
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