Restoring 401(k) matches
In 2011, companies began to restore matching employees 401(k) contributions. The chief executive of ASPPA, Brian Graff, says that his organization is enthusiastic that companies are reconsidering their match levels because its clear that most Americans are not saving sufficiently for retirement and the match is a critical way to get them to save more.
And in 2012, Bill Harmon, senior vice president of 401(k) sales at Great-West Retirement Services, believes that even more companies will restore matches, as its a recruiting tool. I believe its going to be these headlines that say large corporation started their match back up that will start that sense of competition again, he says. Now granted, we also need unemployment to go down again to say that we need this sense of competition. But when those two storms come together and I really dont believe were far away from it ... then youre going to see this.