Dollar Thrifty Automotive Group Inc. reported Dec. 15 that it will reinstate the company match portion of its 401(k) plan for employees in 2009.
The company will match employee contributions dollar-for-dollar up to 2 percent beginning in January 2009. Previously, the employee benefit had been suspended in 2008 due to worsening economic conditions and the company's expected performance in 2008.
"DTG's Board of Directors and the management team feel strongly that reinstating the 401(k) match for employees is the right thing to do," said Scott L. Thompson, president and chief executive officer. "While many companies are faced with economic uncertainty - and our own company certainly continues to see its share of headwinds - it is tough for companies and employees alike. As we at DTG work together during these difficult times, it is important that employees be able to focus on their own future and that of their families. That's why the DTG board, at management's request, unanimously voted to reinstate the 401(k) match benefit for our employees."