In a welcome bit of economic news, participants in the Vecellio Group’s 401(k) plan received the same generous gift from the company this year as in 2008 — a 50 percent match on all contributions up to 6 percent of an employee’s paycheck.
This comes at a time when some companies are cutting back or even eliminating their voluntary contributions to reduce costs. But as a privately owned organization, the Vecellio Group’s approach is different.
“We understand that construction is a cyclical business, with ups and downs along the way,” said Bob Leadbetter, V.P. of Human Resources. “The Vecellio Group’s philosophy is to build for long-term success and that includes taking care of the people who contribute to its success. Making the same level of 401(k) contribution, despite the current economic conditions, is a good example of that commitment.”
(Note: Participants can contribute more than 6 percent if desired, and can choose how they want their funds invested.)