A significant 84% of employees intend to use their work-sponsored 401(k) accounts as a primary source for funding their retirement, according to the Retirement Confidence Survey. This reliance reflects a strong expectation that these funds will support a comfortable lifestyle after leaving the workforce. Many view 401(k) accounts as essential for financial security in retirement, with almost a third of workers prioritizing them as guaranteed income sources, especially with employer matching contributions playing an important role in encouraging participation in retirement plans.
According to the Retirement Confidence Survey, 84% of employees plan to tap into their 401(k) for retirement, indicating high reliance on these funds.
Many workers prioritize their retirement plans, with one-third considering 401(k) accounts a guaranteed income option to fund their lifestyle in retirement.
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