10 must-know facts about today’s 401(k) plans
There's been a shift toward more generous matching formulas. A decade ago, the majority (44%) of plans matched 50 cents on the dollar, and 35% used dollar-for-dollar matching. Now, most plans (45%) match on a dollar-for-dollar basis. And the percentage of plans matching dollar-for-dollar above 3% of pay grew by more than half, to 36% of plans.