What portion of workers are accruing benefits in an employment-based retirement plan?
About half of adults working full-time are in an employment-based retirement plan. Coverage expanded steadily for several decades after 1940, when only 15% of working adults had such coverage. However, retirement plan coverage peaked in 1980 and has declined modestly since.
Bureau of Labor Statistics data from late 2003 show that 49% of all workers and 58% of full-time workers are in a retirement plan. The numbers are significantly higher among public-sector employees.
Those with the following attributes are most likely to be covered by an employment-based retirement plan:
See also October 2003 Essue Brief - Employment-Based Retirement and Pension Plan Participation: Declining Levels and Geographic Differences