Most employers saw it as a temporary step, Steve Anderson, from Charles Schwab, told Reuters.

Despite these cuts, 87% of execs said the company match was “the most important feature” of their company’s 401(k).

A quarter of companies have also put some limits on enrollment, instead of offering the plan to all employees. The  study for Charles Schwab Corp. by CFO Research Services surveyed 200 senior finance and human resources executives.

“63% say employee concerns over personal finance are creating a more difficult work environment.”

You may also want to address employees’ anxiety about their retirement funds by increasing the amount of advice.

While the execs mostly agreed that the current system worked well, 63% said the recession had generated concern in the office. Here’s what execs are doing to address employees’ anxieties:

• 76% are making investment advice more available, and
• 25% are offering individual advice

“Getting Retirement Savings Back on Track: Employer Views on the 401(k) and Financial Educations in the Workplace” (links directly to PDF is available from Charles Schwab.

Julie Power is editor in chief of the Internet Marketing Report and its blog, the Internet Marketing Report Online.