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June 08, 2006 at 09:20 AM
About 37% of all workers aged 21-30 participate in a retirement plan at work, according to a new analysis.
Among those who participate, a 401(k)-type defined contribution plan was the most common, according to the analysis, by the Employee Benefit Research Institute, Washington.
The study also found 60.6% of these younger workers are employed at a firm that sponsors a plan.
EBRI found that plan involvement has increased among younger workers during a 5-year span. Using the most recent statistics, 2003, the group determined that participation in a plan offered by a current job was up to 36.6% among younger workers, from 32.2% in 1998.
