Is Your Company’s 401(k) Plan Working the Way It Should?

This post was contributed by Jim Kyger, Assistant Vice President, Human Relations, Printing Industries of America. In this installment, Jim discusses the role of 401(k) plans in your business.

Two interesting studies were released in May analyzing various statistics of 401(k) plans in 2014. First, Financial Engines reported that as many as 25 percent of employees are not taking full advantage of their company’s match to the 401(k) plan. They calculated that these employees are, on average, missing out on $1,336 a year of “free” employer money. Calculated over 20 years, this equates to $42,855 (including investment gains).