Trend: Employers cutting 401(k) match - Philadelphia Business Journal:

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The survey of companies nationwid e found that 29 percent havealready modified, or intend to the matching contribution feature in their 401(k) plans durint the 2009 plan Two-thirds of those respondents — or 20 percent of all respondents — say they will eliminates the match entirely. Grant Thornton spokeswoma n Sharon Whittle says the survey reveals that companies inthe health-cared and nonprofit industries were less likely to make changes this year.
Large employers and companies inthe retail/trade and financial-services/banking sectors were more likely to make “Companies are expecting 2009 to continue to be a challenginf year for business growth and financial stability,” Whittle says. “The impact on 401(k) plans appears to be a greatef considerationof lower, and more spending on matching contributions in order to addresz cash and profit constraints.” The surveyt was conducted in April, with 283 Grant Thorntonb clients participating.