AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.

Create a link to this page

Copy and paste this link tag into your Web page or blog:

<a href="http://www.accessmylibrary.com/article-1G1-119805428/maryland-workers-lose-401.html" title="Facts and information about Maryland Workers Lose 401(k) Employer Match.">Maryland Workers Lose 401(k) Employer Match.</a>

Close Set up an RSS feed that alerts you when new articles from The Baltimore Sun (Baltimore, MD) are available.

Frequently asked questions about RSS feeds

Maryland Workers Lose 401(k) Employer Match.

The Baltimore Sun (Baltimore, MD)

| August 12, 2003 | COPYRIGHT 2007 The Baltimore Sun. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: David Nitkin

Aug. 12--As Maryland's weakened fiscal condition lingers, state government workers are absorbing another hit: the loss of a benefit that provided up to $600 yearly for retirement investment accounts.

The state has suspended its employer match for 401(k) and related retirement plans, saving an estimated $18 million to $20 million annually in personnel costs.

The suspension, which began at the start of the current fiscal year on July 1, is hitting home as employees receive their most recent pay stubs.

"It's just one more thing that is going to contribute to low morale, along with higher workload and less staff," said Sue…

View articles courtesy of your local library

Related articles from newspapers, magazines, journals, and more


Maryland Workers Lose 401(k) Employer Match.: Newspaper article from: Knight Ridder/Tribune Business News August 12, 2003 700+ words
...accounts. The state has suspended its employer match for 401(k) and related retirement...the Center for Retirement Research at Boston College found a demonstrable link between employer...in recent years, according to the Boston College study. But Caple of the retirement...


New Data from Charles Schwab Shows Employer Match is Key Factor in How Much...: Press release article from: Business Wire November 3, 2008 700+ words
...For example, here are two possible employer match formulas: * Employer A offers a 100...cases, an employee could receive an employer match equal to three percent of compensation...into the plan to receive the maximum employer match. The maximum cost of the match to...


NFL plan offers benefit hike, employer match: Magazine article from: Pensions & Investments Anand, Vineeta October 5, 1998 700+ words
NFL players will get a generous employer match to their $100 million 401(k) plan...benefits at the Players Union. The new employer match will be 100% up to $10,000 of the...year. Currently, players receive no employer match but get a minimum of about $3,500...


Employer match moves workers to use retirement plans, EBRI finds.(Employee...: Magazine article from: Employee Benefit News May 1, 2005 700+ words
...percent would be more likely to participate with a match up to 3%. Currently, 78% of employees are offered a plan with an employer match, EBRI finds. What workers want Employees don't only want cash, they want convenience. Two-thirds of workers not...


Time to Tune Up Your 401(k) Strategy.(contribute enough to get maximum employer...: Magazine article from: Kiplinger's Personal Finance Magazine FRANKLIN, MARY BETH October 1, 1999 700+ words
...with your plan administrator to see if you can boost deferrals during the last quarter of the year to capture all of the employer match. Federal law allows employees to contribute up to $10,000 a year of tax-deferred income to a 401(k), but individual...


Some employers halt 401(k) matches as recession hits; Cost-cutting efforts seen...: Magazine article from: Business Insurance Wokcik, Joanne December 8, 2008 700+ words
...boom of the late 1990s faded the average employer match fell from from 3.3% of earnings in 1999...to the Center for Retirement Research at Boston College. Today the average employer match is 3% of earnings, according to David Wray...


Boston College accepts ACC invitation, will become 12th member.: News wire article from: Charlotte Observer (Charlotte, NC) October 12, 2003 700+ words
...aggressive expansion plan Sunday when Boston College accepted an invitation to become the...90-minute conference call Sunday. Boston College had been kept out by a 6-3 vote in...Presidents. It remains unclear exactly when Boston College will leave the Big East Conference...


Boston College accepts ACC invitation, will become 12th member.(Knight Ridder...: News wire article from: Knight Ridder/Tribune News Service Green, Ron, Jr. October 12, 2003 700+ words
...aggressive expansion plan Sunday when Boston College accepted an invitation to become the...90-minute conference call Sunday. Boston College had been kept out by a 6-3 vote in...Presidents. It remains unclear exactly when Boston College will leave the Big East Conference...


Fenway Sports Group Extends Partnership With Boston College Athletics...: Press release article from: PR Newswire August 7, 2007 700+ words
...President, Sponsorship Sales, Boston College and Promotes BriAnne Bruni to Director, Client Services, Boston College BOSTON, Aug., 7 /PRNewswire...marketing relationship with the Boston College Athletics Department. Terms of...


Boston College Chooses GE Money to Provide Credit Card Product to University...: Press release article from: Business Wire October 18, 2006 700+ words
...Scholarship Program STAMFORD, Conn. -- Boston College, one of the nation's leading institutions...Money's Personal Finance business. "Boston College is committed to using this program...a MasterCard product featuring the Boston College brand. Cardholders will earn Boston...

For more facts and information, see all results

The AccessMyLibrary advertising network includes: