It’s not that rare, although 100% matches are usually only for a smallish amount each year. You might get the first $5k matched at 100%, and the next $5k at 50%, and then no more matches for instance.
Pensions were killed off by global competition. If you’re running a company that has hundreds of old workers basically still on the payroll it’s very hard to compete with a sweatshop in Asia that is willing to kick their employees to the curb when they hit 50, or just works them to death first. Even if you are more efficient those legacy costs huge. Sure those Asian companies will have massive problems in a few decades with the pollution and poor treatment of the old and whatnot, but businesses and wall street don’t care about 20 years from now, they care about 20 weeks from now when the financials are released.
