Sep. 17 at 7:31 PM
Sherwin-Williams and Werner Enterprises recently suspended their 401(k) company matches, highlighting a trend during tough economic times. Sherwin-Williams paused its match of up to 6%, citing weak housing demand, inflation, and tariffs, while Werner cut its match as part of a
$40 million cost-saving plan. Experts note matches incentivize employee contributions and build retirement savings, but companies generally have discretion to change or suspend plans. Safe-harbor plans require at least 30 days’ notice. While suspensions aren’t always permanent, they effectively act as a pay cut and may affect morale and retention.
$SHW $WERN