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GOBankingRates
GOBankingRates
John Schmoll

HISTORICAL FACTS: 100k 401 k plans are growing but many are still massively unprepared for retirement - The Untold Story

Social Security SSA
g-stockstudio / iStock.com

The 401(k) plan is a popular retirement savings tool. Americans can deposit funds and often receive a matching contribution from their employer to help grow their retirement savings.

Achieving a six-figure 401(k) balance is notable. More Americans are reaching this milestone, according to The Daily Overview via MSN: Approximately 22% have hit $100,000 in their 401(k) plans, up from 14% previously.

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