John Mateyko, APMA®, WMCP™, RICP® on What Employers Should Know about 401(k) Matching
In the modern workplace, flashy perks like catered lunches or casual dress codes may attract attention—but when it comes to what really matters, retirement benefits remain a top priority for employees . According to a 2019 survey, 68% of workers said retirement benefits influenced their decision to accept a job , and 62% reported these benefits would impact their decision to stay . Additionally, a strong employer 401(k) match is seen as a cornerstone of retirement security by a majority of employees. If your company doesn’t yet offer a match, it may be time to reconsider. Below is a breakdown of how 401(k) matching works and the strategic advantages it offers your business. What is 401(k) Matching and How Does It Work? A 401(k) plan allows employees to contribute a portion of their income into a retirement savings account—often on a pre-tax basis. A matching contribution is when the employer contributes to that same account based on how much the employee contributes. Common ma...