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September 23, 2005 at 08:00 PM
A higher percentage of all workers were offered, participated in, and were vested in a retirement plan in 2003 than they were in 1998, according to a recent study by the Employee Benefits Research Institute (EBRI) in Washington.
The study, based on the U.S. Census Bureau’s Survey of Income and Program participation data for 2003, also found that 63% of workers age 16 and older worked for an employer or union that sponsored a retirement plan in 2003, a slight jump from the 60% found when the Census Bureau performed a similar study in 1998.
The 2003 study also found that 48% of all workers 16 or older participated in a retirement plan, up from 44% in 1998. Forty-four percent of the workers also said they were entitled to a pension benefit or lump-sum distribution if they left their job, up from 41% in 1998.
