Tag: employer match
The U.S. retirement savings system has always been a little leaky. But the leaks seem to be getting bigger. Some Americans are eyeing withdrawals from their 401(k) plans as the best of a few bad options for paying their rent or solving other cash-flow problems. As of May 8, 1.5 percent of retirement plan participants…
The employer match of employee contributions is an important characteristic of 401(k) plans. The match was designed to encourage participation and contributions – particularly by lower-paid employees. However, at a growing number of companies, the employer match has become a casualty of the COVID-19 crisis and ensuing economic collapse. Although employers have adopted a…
