Employers are open now, more than ever before, to making the most of their 401(k) matching, according to two retirement advisers. Bloomberg News issued a report in mid-February that hundreds of employers were pulling back their company matches and setting lower limits on annual payments, but many small- to mid-size employer matches are continuing to develop a long-term plan.
I have more clients today thinking through what theyre trying to accomplish with their match, says Ed Hinders, vice president at CBIZ Retirement Plan Services based in Cleveland, Ohio. Theyre not just throwing a number out there more are asking, Why are we doing this? Hinders, who represents clients in the $75 million to $100 million range, or as many as 1,000 employees, says this is a good sign.
