The Profit Sharing/401(k) Council of America is celebrating National 401(k) Day on Tuesday by encouraging plan participants to take full advantage of their employer's matching contribution. "As we celebrate 401(k) Day 2004, the Profit Sharing/401(k) Council of America urges plan participants to increase their savings to get a full employer match," David Wray, PSCA president, said in an interview. "We estimate that 401(k) plan participants are shorting themselves by approximately $30 billion by not taking advantage of one of the very best features of their 401(k) plan."
PSCA is offering plan sponsors its Retirement Ready program, available online at www.401kday.org, free of charge. The program features interactive and print educational materials and a step-by-step guide or action plan that walks sponsors through the options they have in celebrating the event.