TOWSON, Md.—The Black & Decker Corp. is reinstating its 401(k) plan match, effective Dec. 1.
The tool and accessories, hardware and home improvement products manufacturer will return the match to its prior level, which was 50% on the first 6% contributed, according to a Securities and Exchange Commission filing last week. The match had been suspended in April, said Roger A. Young, vp, investor and media relations.
Mr. Young said the reinstatement is unrelated to the Nov. 2 announcement that Towson, Md.-based Black & Decker plans to merge with The Stanley Works, which is based in New Britain, Conn.
“It was always intended to be temporary,” he said of the suspension.
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