41.5 Percent of Workers in Employee Retirement Plans
The percentage of all workers participating in employment-based retirement plans was 41.5 percent in 2007, up from 39.7 percent a year earlier, according to a study by the Employee Benefit Research Institute.
Among full-time workers 21 to 64 years old, 55.3 percent were in an employment-based plan in 2007, up from 52.7 percent the previous year, according to a news release on the study issued by EBRI in Washington.
Other findings in the study were:
• 63.9 percent of workers 55 to 64 were in a retirement plan in 2007, compared with 28 percent of workers ages 21 to 24.
• 57 percent of full-time female workers participated in a plan in 2007, compared with 54 percent of male workers.
• Florida had the lowest representation of workers participating in plans in 2007, at 42 percent. Wisconsin had the highest participation rate, at 68 percent.
The study is available on EBRI’s Web site, www.ebri.org.
Filed by Doug Halonen of Pensions & Investments, a sister publication of Workforce Management. To comment, e-mail firstname.lastname@example.org.
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