Can a stated match be amended to a lower rate?

[Guest kstorch]

I'm curious as to whether a plan that has a stated match can amend their document to reduce the match. I suspect there are protect benefit issues, but I'm wondering if this is feasible, particularly with a business that has come under hard times.

[MWeddell]

Yes, one can amend the plan to reduce the matching formula, but it typically can't be done retroactively.

[Guest Mr. X]

If you wish to reduce the matching contribution prospectively, no problem. However, there also may be a way to reduce it retroactively if there is a last day or hours requirement and the participants have yet to attain those stipulations.