Why are only about half of American workers saving for retirement through their workplace? According to the Government Accountability Office, it’s largely because their employers do not offer savings plans like a 401(k).
Of all the workers who aren’t currently saving through their employer, 68% work for an employer that doesn’t offer a plan and 16% are not eligible to participate in their workplace program. Only 16% could take part but choose not to, a GAO report released today found.
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