A company 401(k) plan is a great way for employees to save for retirement. The problem for those who work in retail or food services is that many of the companies in those industries either don’t offer a retirement plan or there are barriers to participating.
Key Takeaways:
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Because many employees in the retail and food industry work fewer than 40 hours a week, they save far less because of lower salaries and plan eligibility rules.
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Since these industries are comprised of mostly young employees or minorities, it puts these groups at higher risk for not reaching their retirement goals.
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Access to a 401(k) plan is important no matter how many hours you work, how old you are, or what industry you work in.
Read more here: http://www.bankrate.com/one-to-million/when-a-job-doesnt-come-with-a-401k/
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