Great Deal For 401(k) Savers: 50% Match
(1st/2nd Quarter 2009)
In a welcome bit of economic news, participants in the
Vecellio Group’s 401(k) plan received the same generous gift
from the company this year as in 2008 — a 50 percent match on
all contributions up to 6 percent of an employee’s paycheck.
This comes at a time when some
companies are cutting back or even eliminating their
voluntary contributions to reduce costs. But as a privately
owned organization, the Vecellio Group's approach is
different.
"We understand that construction is a
cyclical business, with ups and downs along the way," said Bob
Leadbetter, V.P. of Human Resources. "The Vecellio Group's
philosophy is to build for long-term success and that includes
taking care of the people who contribute to its success. Making
the same level of 401(k) contribution, despite the current
economic conditions, is a good example of that commitment."
(Note: Participants can contribute more than 6
percent if desired, and can choose how they want their funds
invested.)
