Controller's Report

To reduce costs, 29 percent of companies have modified, or intend to modify, their contributions to their 401(k) plans during the 2009 plan year, according to a new survey by Grant Thornton. But among these organizations, modification is actually a euphemism for eliminating the match (67 percent). Meanwhile, 22 percent are reducing their matches and an amazing 11 percent actually plan increases, despite hard times.