Sonoco boosts match in 401(k) plan after shutting down its DB plan
Posted On: Nov. 1, 2022 9:46 AM CSTAfter 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%.