Q: For companies with greater than 200 employees, what will your 401(k) match will be for 2010? For example, match 25% of the first 6% or match 50% of the first 6%.
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A: Thank you all for your quick responses. I'm attaching the results of your feedback. A couple of companies responded that weren't at the > 200 employees but I've noted that in the table. As an added thank you, I can share with you the following detail:
2008 BEDC Benefits Survey: For those with >250 employees
• 8% provided a 25% match
• 31% provided a 50% match
• 15% provided a 100% match
I also requested a recent special Radford report (again for larger life science companies nationally) and 66% provided a match of 50% or more. I hope this helps you all with your decisions.
Data:
1: 100% on first 3%; additional profit sharing match up to 2%.
2: 50% on first 6%
3: 100% on the first $1,000
4: 25% on the first 6%
5: 25% on the first 4%
6: 50% on the first 6%
7: Proposing 50% on the first 6%
8: 50% on the first 6%
9: 50% on the first 6% (175 employees)
10: 100% match in stock (150 employees)
11: 66% match on first 6%
12: 50% on the first 6%
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