Employers have long struggled to encourage employee participation in retirement accounts. Increasingly, employers have felt more responsible for helping employees save for retirement, as more and more workers dip into their retirement accounts at earlier ages. However, the IRS has announced that the 401(k) individual contribution limit will remain at $19,500 for 2021, representing only a $500 increase from last year.
See "IRS Won't Increase Employee 401(k) Contribution Limits for 2021", Kate Torone, HRDive, October 27, 2020