About one in four employers who cut contributions to their workers’ 401(k) plans expect to reverse the action over the next six months, and two-thirds of employers who forced workers to pay more for health coverage will not reverse that move.

Laura Sejen

“Some employers are seeing the light at the end of tunnel and feeling optimistic about the prospect of improved business results,” said Laura Sejen, global director of strategic rewards consulting at Watson Wyatt, which performed the study.

About 24% of employers plan to reverse reductions to 401(k) match contributions in the next six months, versus 5% who said in June they would make the change later this year, according to Watson Wyatt’s latest bimonthly survey. The survey was conducted this month and includes responses from 175 large employers.

The survey found that 66% of respondents that increased the percentage that employees pay for health care premiums do not expect to reverse that decision.

About 40% of respondents are planning to shift more health care benefit costs to workers by increasing the percentage of premiums they pay. Another 41% of companies expect to increase the deductibles, copays or out-of-pocket maximums for their 2010 health care plans.

More than a third of employers have noticed an increase in the number of employees taking hardship withdrawals (36%) and loans (37%) from their 401(k) and 403(b) plans in the last two months, the survey found.

The survey found that 33% of employers that froze salaries plan to unfreeze them within the next six months, up from 17% two months ago. Forty-four percent plan to roll back salary cuts in the next six months, compared with 30% two months ago.

For many employers, the recession appears to have hit its low point. The survey found that 27% of respondents think their company’s business results have already bottomed out, and a further 15% think they are currently at bottom.