Delphi has announced the reinstatement of the 3.5% Company Match in the Salaried Retirement Savings Plan (SRSP). Effective March 1, 2010, Delphi will contribute an additional amount equal to $.50 for every dollar of your savings up to 7.0% (e.g. 3.5%) of your eligible compensation that you contribute into the SRSP. This Company Match will be over and above the 4.0% automatic contribution that you are currently receiving into your SRSP.
While your personal retirement plan may already call for a contribution level higher than 7.0%, all participants should contribute a minimum of 7.0% to the SRSP to maximize the company contribution to their account.