Employers See 401(k) Matches as Potential Area to Trim Expenses
Business Insurance (12/17/01) Vol. 15, No. 15 p.96; Prince, Michael

In a move that will create short-term savings but risks alienating employees, a number of employers are cutting their matching contributions to employees' 401(k) plans. Ford Motor Co., for example, is announcing that it will suspend its matching contribution to its salaried workers' 401(k) program starting on the first of the new year. The move is designed to save the automaker $300 million in 2002.


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