Administration November 1, 2010
No 401(k) Match Changes Planned
November 1, 2010 (PLANSPONSOR.com) – Eighty-four percent of corporate finance officials say they plan no change to their 401(k) match, up 10% from six months earlier, while 10% plan cuts and 5% plan to increase their match.
Reported by Fred Schneyer
A Grant Thornton news release about its survey of CFOs and senior comptrollers said 30% of respondents plan to reduce health care benefits, 23% plan to cut bonuses, and 18% will cut stock options/equity based compensation. Some 86% reported they plan no changes in life insurance or disability, according to the poll.
Eighty-four percent of respondents said in general, employee benefits are their greatest pricing pressure, up from 68% in a poll six months earlier.
Grant Thornton LLP conducted the biannual national survey from October 5 through October 15, 2010, with 508 U.S. CFOs and senior comptrollers participating.
More information is at www.GrantThornton.com.