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Retirement Plan Participation Falls

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Employers are continuing to offer retirement plans, but fewer workers are enrolled in the plans.

Researchers at the Employee Benefit Research Institute, Washington, have published figures supporting that conclusion in an analysis based on new data for 2004 from a federal survey.

In 2004, about 61% of workers said their employers sponsored a retirement plan, the EBRI researchers report.

The percentage of workers at employers with retirement plans is about the same as it was in 1992, the researchers write.

But the percentage of workers who say they are in a retirement plan fell to 46% in 2004, from 49% in 2001, when the federal government conducted the previous survey in the series, EBRI researchers report.

Meanwhile, only 44% of the workers in retirement plans have a defined benefit plan. About 56% of workers in plans have only a 401(k) plan or other defined contribution plan, the researchers report.

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