What is a tax-preferred retirement savings vehicle offered by employers to which the employers often match part or all of employees' contributions?

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A 401(k) account is a tax-preferred retirement savings vehicle offered by employers to which employers often match part or all of employees' contributions. Defined contribution and defined benefit pension plans are also retirement savings options, but they are not as prevalent as 401(k) plans. Social Security is a government-administered retirement savings program and is not directly offered by employers.

What Is a Tax-Preferred Retirement Savings Vehicle Offered by Employers