The growing trend for companies to suspend or even eliminate 401(k) matches in this recession will inevitably translate into fewer people contributing to their retirement savings, writes Rockefeller Foundation Associate Vice President Janice M. Nittoli in an editorial in The Wall Street Journal titled, “Now Is No Time to Skimp on Retirement Plans.”

Millions of people will consequently face difficult retirements, she says, since one-third of U.S. employers have cut back on 401(k) matches since January 2008 and another one-third plan to do so before the end of the year.

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