If Americans need to save more for retirement, then we have a problem. Most of the nation's private-sector workers are shut out of employer-sponsored retirement plans. No wonder participation in these plans is so low.
Among the nation's 110 million private-sector wage and salary workers aged 21 to 64, only 39 percent participated in an employment-based retirement plan in 2012. Behind the low participation rate is the fact that many employers do not offer a retirement plan. Only 48 percent of private-sector workers had an employer who sponsored a retirement plan, the lowest figure in the past 25 years and down from a high of 59 percent in 2000.
Source: Employee Benefit Research Institute, Employment-Based Retirement Plan Participation: Geographic Differences and Trends, 2012
No comments:
Post a Comment