In the United States, if you work for a company you should be entitled to some sort of employer contributions that go towards your retirement savings. The same can be said if you work in Canada. In most cases you're dealing with a defined contribution plan, which is a form of retirement plan that specifies the employer's annual contribution to your retirement plan or pension.

Each individual employee or store manager will have an account set up in their name in which benefits will be applied to based on credited employer contributions and, if possible, credited employee contributions. There is also the possibility of adding to those contributions totals through investment earnings on the amount of money that has already accumulated in the account.

The only thing guaranteed in theses retirement plan savings account are the employer contributions themselves and nothing else based on future benefits, as future benefits can fluctuate based on investment earnings. One of the most common forms of retirement plans that employers help contribute to in the United States is the 401 (k). However, not all companies provide their employees with employer contributions so you need to find out if such a program is in place if you just got a new job.

The easiest way of finding out is by asking the person that hired you. They'll tell you straight up if you do or don't fall into the group of 47% of Americans who work for a company that doesn't offer 401 (k) contributions. There are also some companies automatically enroll all eligible employees into a retirement savings plan once they qualify in order to help fund their retirement savings.

Once you find out whether or not your employer offers employer contributions you need to see what you need to do to get them to contribute or how much they are already contributing. If the company you work for offers employer contributions automatically you need to see how much of your paycheck is being invested into your retirement savings account by default and see if that's enough to help you reach your retirement goal. If it's not enough you can ask your employer if they would be willing to start a program that matches your contribution so you can achieve your retirement goals quicker.

Matching programs are great incentives for companies because they show how much they care about their employees and that in turn can attract potential workers that would have never wise thought about working there. Employer contributions can be a win-win situation for employees and employers if handled correctly so make sure to find out what the employer contribution situation is at your job.

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