FINRA this week issued an investor alert urging the roughly 30% of American workers who are not contributing enough to their 401(k) plans to receive a full employer match to step up their contributions in order to meet their eventual retirement needs.
The alert, titled “Why Leave Money on the Table – Make the Most of Your Employer’s 401(k) Match” – claims that too few workers are taking advantage of a simple benefit that can pay large dividends when investors reach retirement age. One of the most common matches is a dollar-for-dollar match of up to 3% of the employee’s salary.
