Station Casinos Suspends 401(k) Match
Company Blames Economy For Decision
POSTED: 3:39 pm PST December 2,
2008
UPDATED: 10:45 pm PST December 2,
2008
LAS VEGAS -- Station Casinos will suspend matching contributions to employees' 401(k) retirement plans.The company is joining others across the nation making the change because of the struggling economy.No other local casino companies have gone that route, but some executives said it's an option they may have to consider.Station Casinos released this statement Tuesday: "As we continue to navigate through difficult economic conditions, we have put in place a number of cost saving measures, including a temporary suspension of the match portion of our 401(k) program. Team members are still able to participate in the program. The decision to temporarily suspend the company's 401(k) match will be reevaluated on a regular basis based on economic conditions."
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