In addition to helping employees save for retirement, a solid 401(k) plan can help companies to attract, motivate and retain good workers, enhance a company's corporate reputation and contribute to the long-term financial success of the business, according to a new study by Charles Schwab.

Among the findings, 95% of financial executives consider their company's matching contributions to be an important feature of the plan, but they still see room for improvement in making a better partnership with employees, according to the study, "A Shared Benefit: Employer Views on the Value of 401(k) Plans."

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