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Employee Benefits

Sonoco boosts match in 401(k) plan after shutting down its DB plan

November 01, 2022 Reprints

After shuttering its defined benefit plan in 2021, global packaging company Sonoco Products Co. has used the savings to boost its employer matching contribution to its $1.2 billion 401(k) plan, reports Pension & Investments. Under the new matching formula, employees now receive a dollar-for-dollar match up to 6%.

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Sonoco boosts match in 401(k) plan after shutting down its DB plan

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