DMC not canceling 401(k) plan match, only postponing due to COVID-19 outbreak

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Posted at 10:49 PM, Apr 06, 2020
and last updated 2020-04-06 22:50:02-04

DETROIT (WXYZ) — Nurses with the Detroit Medical Center expressed concerns over their 401(k) plan matches.

The company responded saying that Tenet Health is not canceling or eliminating employees' plans, but postponing the match program until later in the year.

A full statement from Tenet is below.

Our most important mission right now is to provide the best possible support for our hospitals and other care facilities so they can continue to deliver life-saving treatment to fight COVID-19 and many other illnesses and conditions. Every effort is being made to help bring us all through this crisis, and we have made the decision to direct additional resources to meet the demands in our hospitals, address evolving patient needs and protect front-line staff. We are postponing the annual funding of our 401(k) match program for the near term, but will provide our employees with this benefit later in the year.

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