Many people saving in 401(k) accounts get a company match from their employer. But that money may not yet belong to them.

A person may have to remain employed with a company for up to six years — nearly twice as long as the typical private-sector worker stays in a job — to take full control of those matching funds, which may pose an additional financial hit for those laid off in a cooling labor market .

The 401(k) match is often referred to as "free" money: Employees who contribute to their 401(k) plan may get a matching contribution to their account from their employer, up to a certain amount.

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