This month, it is expected that GOP Congress members will push for legislation that includes modifications to 401(k) savings plans.

"There's a lot of concern about folks who don’t have enough saved for retirement," said Diane Thompson, an employee benefits and executive compensation attorney at Ballard Spahr. "The idea is that helping both employers and employees hopefully would encourage more people to save."

As 401(k) plans have become commonplace, according to data from the Bureau of Labor and Statistics, about a third of employees have no access to any workplace retirement plan.

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