In response to declining sales, at least 19 large companies have suspended or reduced their matching contributions to employee 401(k) plans, Boston College's Center for Retirement Research reports.
Some companies, such as Dollar Thrifty Automotive Group Inc., Tulsa, Okla., stopped their contributions early in 2008, while others, such as Cushman & Wakefield, New York, announced their cut to start in January 2009.