Jones, Day, Reavis, Pogue

Thomas Hawkins, a director at Jones, Day, Reavis, Pogue, says the Cleveland law firm likely would increase its 7.2% matching contribution if Social Security benefits were reduced. If Social Security were discontinued, the 6.2% employees currently are paying into the social security system and the law firm's match would add up to an additional 13.4% of each worker's annual salary. Though Jones Day hasn't distributed literature or made changes to its $280 million, 1,400-participant 401(k) plan ahead of any Social Security alterations, officials have thought about what they might do in the event of such an occurrence, Hawkins says, noting the sponsor also may alter its defined benefit plan.