If you have an employer contributed 401k and they say you only get it if you last until retirement age-?

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Say you have an a 401k that the employer contributes 3 percent a year- What happens to the money if you don't make it until age 62 ? Does the employer then have to pay tax on that money and why do they get to keep it?

If you have an employer contributed 401k and they say you only get it if you last until retirement age-?