Podcast Center
Video Center
Webcasts
Resource Center
Events
February 15, 2006 at 03:55 PM
The number of U.S. workers under age 30 who participated in some kind of tax-favored retirement plan fell 7.3% between 1997 and 2000, to 13.2 million.
Researchers at the Congressional Budget Office have published data on retirement plan participation rates in a paper aimed at members of Congress who are concerned about the effects of tax laws and retirement plan contribution rules on participation rates.
Although the total number of U.S. residents who had a 401(k) plan, an individual retirement account, a defined benefit pension plan or some other type of retirement plan held steady at about 68 million between 1997 and 2000, the percentage of workers participating in such plans fell to 50%, from 51%.
The number of participating workers fell 5% for the 30-44 age group, rose 9.2% for the 45-59 age group and rose 2.3% for the 60 and over age group.
