A new, independent survey by American Investment Planners LLC indicates that more businesses are stopping the match on their 401(k) plans. AIP, which calls the data surprising, says that since 2009, the number of companies that make a 401(k) match has actually decreased by nearly 7%.
A growing number of wage-earners will have to create investment alternatives to build up their retirement nest eggs, AIP says. According to this week’s 401(k) Performance Survey, approximately 5% of 401(k) plans, or 13,811 plans, stopped matching in 2010, and an additional 2% halted the employer match in 2011.
