About one-third of the companies surveyed by Callan that raised their contributions in 2021 reinstated matching contributions they had cut earlier in the pandemic, said Jamie McAllister, a Callan consultant who specializes in 401s.
Before 2021, Booyah contributed up to 2.5% of an employee’s salary to a 401 account, or 50% of employee contributions up to 5% of the person’s salary. Now, the company will invest up to 5% of the person’s salary, matching 50% of the employee’s contributions up to 10% of the individual’s salary.
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