FINRA said it is issuing this alert because too few workers are taking advantage of their employer-sponsored retirement plans. The report, “Why Leave Money on the Table—Make the Most of Your Employer’s 401(k) Match,” says that three out of 10 employees are not contributing enough to their 401(k) to receive their full employer match. Younger workers are even more likely to leave money on the table, with 43% of workers age 20-29 failing to contribute to the full extent of their employer’s match.

FINRA pointed to an earlier study that showed 40% of employees making less than $40,000 fall short of contributing the full extent of their employer’s match. Millions of workers, especially younger and lower income workers who need it most, are leaving money on the table.

“Even in tough economic times, all employees still need to prepare for their retirement. Taking full advantage of a company’s 401(k) match is a no-cost way for workers to boost their retirement savings,” said Gerri Walsh, FINRA Vice President of Investor Education. “Employees who contribute less than their employers are willing to match are walking away from free money.”