Thousands of firms cut 401(k) contributions amid COVID-19
Posted On: Dec. 18, 2020 9:44 AM CSTA Plan Sponsor Council of America study found that thousands of organizations reduced funding they usually pay to 401(k) investors because of the COVID-19 pandemic, CNBC reported. Figures According to PSCA survey figures, about 8% of employers slashed their 401(k) contributions in recent months and another 1% are considering doing so.