Many employers provide employees with various retirement benefits in the form of retirement and investment accounts or plans—including 401k plans, pension plans, and thrift savings plans (for federal employees)—sometimes with employer-matching of employee contributions.
Retirement benefits are generally discretionary and private employers are not obligated to provide them—or any other employee benefits. Most employees are also covered by Social Security—a retirement benefit administered by by the federal government—with eligibility for benefits beginning at age 62.