A Charles Schwab research study revealed that though many 401(k) participants need more guidance with their plan, very few actually use the help offered to them by their employer:

Seventy percent of respondents said their 401(k) is their only or primary source of retirement savings but less than half or 47% said they are very confident when it comes to making investment decisions. Fifty-three percent said they find their retirement plans even more confusing than health care benefits. Fifty-five percent said they would use free, personalized guidance if their employer made it available to them while less than 10% of people with access to advice actively use it.

According to Bill Losey, a retirement adviser and certified financial planner, for many workers, having savings in a 401(k) plan can make the difference between security and struggle in retirement. But how long they've been in a 401(k) plan and how much is being put into are the most important factors to show if they would have enough retirement income.