Report: Employers cut 401(k) match - Atlanta Business Chronicle:

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The survey of U.S. companiex found that 29 percent havealreaduy modified, or intend to modify, the matching contributiojn feature in their 401(k) plans during the 2009 plan Two-thirds of those respondents or 20 percent of all respondentsw — say they will eliminate the matcgh entirely. Sharon Whittle, Grant Thornton’sa compensation and benefits leadetr forthe Carolinas, said the survey reveals specific Companies in the health care and nonprofit industriese were less likely to make changess this year, she Large employers and companies in the retail/trade and financial-services/banking sectors were more likely to make changes.
“Companies are expecting 2009 to continue to be a challengingv year for business growth and financial Whittle said. “The impact on 401(k) plans appear to be a greatef considerationof lower, and more prudent, spending on matchinyg contributions in order to addreses cash and profit constraints.” The surve was conducted in April, with 283 Grant Thornto n clients participating.