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headshots of various employees male and female in virtual meeting (Photo: Shutterstock)

Retirement plans remain one of the most valuable benefits available to employees, who count on their employers to offer support for retirement planning and education, tax-deferred investment vehicles and access to investment guidance. The majority of employees who are offered a retirement savings benefit at work elect to take it, according to Bank of America’s Financial Life Benefits Report 2021.

The study found more men than women participate in retirement savings plans at 61 percent vs. 55 percent, and married employees are also more likely to enroll in a workplace retirement savings plan at 74 percent compared with 62 percent of single employees.

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