Workers Watching 401(k)s Tumble See Employers Squeeze Them Too

Companies are starting to suspend, defer or shrink the amount of money they match in workers’ 401(k) accounts, with Sabre Corp. and Marriott Vacations Worldwide among those first out of the gate.

If the 2008 financial crisis is any guide, more are almost certain to follow due to the current novel coronavirus-fueled economic downturn. FedEx Corp., Motorola, Resorts International, and General Motors were among the household names that cut or reduced matching contributions to employer-sponsored retirement accounts.

In many cases, the cuts were temporary. Of 231 large companies that suspended their matches in 2008 and 2009, 75% had reinstated them ...