More than half of 401(k) plan participants believe their plan has become more important since the financial crisis of 2008, but many are failing to save as much as they think they should be saving, according to a BlackRock survey.

One of the contributing factors to why participants are failing to meet their savings goals is that they rely heavily on their employer’s match to dictate how much they put away. In fact, 45% of respondents said that the employer’s matching contribution was “very influential” on their saving habits. Here’s the problem: When asked what they thought a good rule of thumb for a savings rate is, 40% said 10% and 25% said 12%. But the average contribution rate for employees is about 6-7%--or roughly what the normal employer match tends to be.

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