Micron Technology Inc., Boise, Idaho, is restoring and enhancing its 401(k) plan matching contribution effective Jan. 1.
Micron will match 100% of employees’ contributions, up to the first 5% of pay. Prior to its March 2009 suspension, the company had been matching 100% of salary deferrals, up to the first 4% of pay.
The match was suspended “as part of numerous measures enacted for the company to remain competitive during the global economic recession,” a spokesman said in an e-mail.
At the time of the suspension, Micron said it intended to reinstate the match when “profitability returned, and the company was profitable” in fiscal 2010, the spokesman added.
Micron’s 401(k) plan has $788 million in assets, according to Money Market Directory.
