Millennials are not saving enough to take full advantage of their employer’s 401(k) company match, but benefit advisers say there are many tools employers can use to turn this trend around and engage the younger generation.

While the average 401(k) participation rate for millennials is a respectable 73% for workers 20-29 and 77% for those aged 30 to 39, many are saving at a low rate, according to a new Aon Hewitt analysis of more than 3.5 million employees eligible for defined contribution plans. Nearly 40% of 20-29 year olds and 31% of 30-39 year olds are saving at a level that is below the company match threshold.

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