Changing employees’ savings behaviors
A prevalent savings scheme in retirement plans (e.g., 401(k)s in the US) is “matching contributions,” where employers match some portion of the amount that employees contribute to their retirement accounts. What is the best way to describe this effort at changing employees’ savings behaviors?
What type of retirement plan will Some employers contribute matching funds towards?
A 401(k) match is money your employer contributes to your 401(k) account. For each dollar you save in your 401(k), your employer wholly or partially matches your contribution, up to a certain percentage of your salary.
What is 401K matching in USA?
A 401(k) match is a contribution by an employer to an employee’s deposits in the retirement fund. Think of it as an addition to your salary, to be paid years down the road. The employer may match all or part of each dollar you contribute up to a set maximum. A 401(k) match is often vested.
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