11/4/2008: Recession Might Reduce Employer Matching Contributions to 401(k) Plans (The Associated Press via Google)
Excerpt: "Frontier Airlines suspended its 401(k) match on June 1 as part of a wider effort to cut costs as it works its way through Chapter 11 bankruptcy protection. The airline's plan matched 50 percent of employee contributions, up to 10 percent of salaries. The company reported that the match cost it $4.2 million in 2006. 'This is a recession-type of response. These employers are really up against it and they have to decide to cut somewhere and this seems like the least bad place for them to cut,' said Alicia H. Munnell, director of the Center for Retirement Research at Boston College."
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