The most common 401(k) match is 50 cents per dollar up to the first 6 percent of pay. If you make $50,000 a year and manage to tuck away $3,000, you can get an extra $1,500 added to your nest egg tax free (until retirement). But some financially struggling companies like General Motors, Kodak, and Frontier Airlines have suspended their 401(k) matches this year. Plus, 4 percent of companies plan to eliminate the match next year, according to a Watson Wyatt survey of 248 companies in October. So, it's particularly important to get the match while you can.
More New Year's resolutions for retirement:
Put off claiming Social Security
Start the discussion! Be the first to comment on this story.