The 2008/2010 recession caused 401(k) balances to fall sharply and firms to reduce or eliminate 401(k) matching plans.

Question

Quizplus · Accepted Answer

The recent recession was not kind to 401(k) accounts. Some firms reduced or eliminated their matches to accounts. As the economy improved, employers began reinstating their matching contributions, usually at the same level, but sometimes higher or lower than the original match.

The 2008/2010 Recession Caused 401(k) Balances to Fall Sharply and Firms