Towerswatson did a great study of 401K plans and the overarching reason that plans are created according to employers is to prepare individuals for retirement. However, only 56% of companies have participation rates of 80% or higher.
Should this be of worry? Definitely – as often this becomes the only income, aside from Social Security that americans will get.
Take a look at the below study – as it gives some great tactics to try and increase participation (Read AutoEnrollment!)