Finally, while many 401(k) plans allow participants to make changes throughout the year, open enrollment is an opportune time to maximize your benefit, Keckler said.
For example, workers should ensure they're contributing at least enough to their 401(k) plan to receive the employer match, which is critical to reaching their long-term savings goals.
Nationally, the average employer contribution is 4.3 percent of salary, according to Fidelity Investments, which recommends employees save a total of 10 percent to 15 percent of their salary annually to ensure their nest egg is sufficient during retirement.
The maximum pretax contribution to a 401(k), 403(b) and 457 plan in 2015 is $18,000, but those 50 and older may make additional catch-up contributions of $6,000. (The limit on annual contributions for individual retirement accounts, or IRAs, is $5,500, plus an additional $1,000 for taxpayers who are 50 or older.)