TTEC Pauses 3% 401(k) Match for 16,000 US Workers for 9 Months

4 articles · Updated · Fortune · May 18

TTEC told its roughly 16,000 US employees it is suspending its 3% 401(k) match for nine months, with a possible restart only if business performance improves.
Laura Butler said in an April 30 memo the move reflects economic strain, a common cost-cutting step employers use to preserve jobs because retirement benefits are among their largest expenses after healthcare.
Research cited in the report shows 76% of employers offered a Roth 401(k) or similar defined-contribution plan in 2025, and 74% of those plans included an employer match.
Past downturns — including the 2001 and 2008 recessions and early Covid-19 — also drove match suspensions, while Sherwin-Williams and Drexel University paused contributions last year before restoring them.
Experts said resumed matches do not always return at the same level and can trigger compliance testing, while employees are still urged to keep contributing to avoid long-term retirement shortfalls.

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