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The Markets April 22, 2009
Weyerhaeuser Suspends 401(k) Match
Weyerhaeuser Co. said it approved the temporary suspension of 401(k) matching contributions for all employees.
Reported by Rebecca Moore
Reuters reported the company announced in a filing that the suspension will begin May 1. The filing noted that as a result, named executive officers will not receive any match contributions.
Weyerhaeuser is the latest in a string of employers cutting match contributions in an effort to reduce costs (see “AARP Joins 401(k) Match Suspension List’).