A majority of 401(k) plan sponsors have said that they haven\u2019t felt the need to stop or eliminate contributions during the coronavirus pandemic, according to a new survey by the Defined Contribution Institutional Investment Association.<\/p>\n\n\n\n
About 86 percent of plan sponsors said they aren\u2019t considering suspending matching employer contributions, just 8 percent said they already have. Meanwhile, 92 per cent said they aren\u2019t considering reducing those contributions, with just 3 percent saying they\u2019ve done so.<\/p>\n\n\n\n
These surveys are always funny because they state the obvious. According to the survey, only a small amount of companies have reduced or eliminated matching contributions, that\u2019s because 13 percent of plan sponsors said they\u2019ve laid off employees, while the same amount said they\u2019ve actually increased hiring in certain departments. If a survey would suggest 20% of more of plan sponsors cutting back or eliminating matching contributions, that would be like a depression.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" A majority of 401(k) plan sponsors have said that they haven\u2019t felt the need to stop or eliminate contributions during the coronavirus pandemic, according to a new survey by the Defined Contribution Institutional Investment Association. About 86 percent of plan sponsors said … Continue reading