Leslie Turk

Advocate freezes its 401(k) match

by Leslie Turk

Baton Rouge's Daily Report noted today that The Advocate is no longer contributing to its employees’ retirement plans. The online newsletter reported:

In a memo Monday, CFO Ralph Bender — citing “difficult economic times” — told employees that the board of directors has decided to suspend the company match on 401(k) plans. The suspension took effect with the payroll period that ended Friday.