Since 2009, the number of companies that match 401(k) contributions has decreased by almost 7%.
"Not only are companies cutting the 401(k) match, an almost equal percentage of companies are terminating their 401(k) plans, Brett Goldstein, director of retirement planning at Jericho, New York-based American Investment Planners, which did the survey, said in a statement. Goldstein added that approximately 6% of 401(k) plans have been terminated since 2009, attributing the cutbacks to the stock market crash of 2008 and the accompanying recession.
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