More flexibility for 401(k) matching funds? IRS open to applying them to other expenses

For many employees, access to an employer-sponsored 401(k) retirement plan is one of the most highly prized benefits. Employers often match employee contributions up to a certain percentage of an employee’s annual salary, essentially doubling that employee’s contribution towards retirement. But younger employees tend to leave some of that free money on the table because they can’t afford to contribute their share.