General Motors Corp. executives plan to increase the companys matching contribution for participants in its $13 billion salaried employees 401(k) plan to 50 cents on the dollar up to the first 6% of pay, said Jerry Dubrowski, spokesman. In December 2001, GM reduced the match to 60 cents on the dollar, from 80 cents, for the first 6% of pay. In January, General Motors further slashed its matching contribution to 20 cents on the dollar.
"Its a reflection of our profitability. Our earnings per share this year rose to $6.75 from $3.10 per share, Mr. Dubrowski said. "It is also a recognition that it is an important part of our compensation.