That looks to be the case for at least one technology services and outsourcing firm. TTEC recently paused 401(k) matches for its US-based employees, Business Insider reported on May 8. The company, which is headquartered in Austin, has about 16,000 staff in the US.
TTEC’s chief people officer, Laura Butler, said in an April 30 memo that the pause would last nine months, and that the company hopes to resume its 3% match “if our business performance supports it.”
Employers often make changes to their retirement plan contributions during periods of economic strain or uncertainty, sources told HR Brew. And while many ultimately resume their match, they don’t always do so at the same level.
What prompts employers to hit pause on 401(k) matches? More than three-quarters (76%) of employers offered a Roth 401(k) or other similar defined contribution plan as of 2025, according to SHRM. Of those offering a defined contribution plan, 74% also offered a match.
Despite their popularity, 401(k) matches often take a hit when the economy goes south. TTEC is far from the first employer to hit pause on their retirement match. The paint manufacturer Sherwin-Williams did so last year, as did Drexel University, though both resumed them within the year.
