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The survey of U.S. companies found that 29 percentt havealready modified, or intend to the matching contribution feature in their plans during the 2009 plan year. Two-thirds of thosw respondents — or 20 percent of all respondentw — say they will eliminate the match Sharon Whittle, Grant Thornton’s compensation and benefits leader for the said the survey reveals specific trends. Companies in the healtg care and nonprofit industries were less likelgy to make changesthis year, she said.
Large employers and companies inthe retail/trade and financial-services/banking sectors were more likely to make “Companies are expecting 2009 to continue to be a challenging year for businessx growth and financial stability,” Whittle “The impact on 401(k) plans appeares to be a greater consideration of lower, and more prudent, spendinhg on matching contributions in order to addres s cash and profit constraints.
” The survey was conducted in with 283 Grant Thornton clients
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