Why You Might Not Get to Keep Your 401(k) Match

Millions of Americans have access to employer-sponsored retirement plans like 401(k)s. These tax-favored retirement accounts allow workers to save thousands of dollars each year, sometimes earning immediate tax savings as a result and setting themselves up over the long run for years of tax-deferred growth. One of the best features of many employer-sponsored 401(k) plans is that they offer an employer match when employees make contributions to their retirement accounts. Each 401(k) that offers employer matching contributions also comes with what's known as a vesting schedule.