Retirement contributions are the amounts of money that individuals set aside to save for their future retirement. These contributions can be made to various retirement accounts, such as 401(k) plans or Individual Retirement Accounts (IRAs). The goal is to accumulate enough funds to support oneself after leaving the workforce. Many employers offer matching contributions, where they add a certain percentage to an employee's 401(k) contributions, effectively boosting the savings. Additionally, contributions may be tax-deductible, providing immediate tax benefits while helping individuals prepare for their financial needs in retirement.