As of October, more than three-fourths of defined contribution plan sponsors (76.8%) had decided not to change their employer matching contributions in 2009, according to the Profit Sharing/401k Council of America. Of those that did, 14.8% suspended their employer match, 3.7% reduced it, and 4.7% raised it.

In all, the PSCA received 508 responses to the survey.

Of the companies that suspended or reduced their matching contributions, 5.4% have already restored it, and 41.3% are planning to do so within the first quarter of 2010. More than half (56.7%) of companies that suspended their employer match saw a decrease in participant deferral rates — although deferrals also went down at companies that did not change their match, by 20.8%.

The song was much the same for non-matching employer contributions. Of the 264 respondents that offered a non-matching company contribution at the end of 2007, 73.2% made no changes in 2008 or 2009. Of the companies that did suspend or reduce their non-matching contributions, 5.5% have already restored it and 30.6% plan to do so within the first quarter of 2010.

 Plan sponsors took a variety of actions in response to the worsening economy: 54.3% increased their plan education efforts, 9.6% added investment advice as an option for plan participants; and 19.7% changed their investment lineup. And more than half (55.4%) reported that they are closely scrutinizing the provider fees paid by the plan and by participants.