Nearly half of Americans worked for an employer or union that sponsored a pension or retirement plan in 2012, according to new research.
Employee Benefits Research Associates discloses this finding in a November 2013 “Issue Brief” published by the EBRI Education and Research Fund. The report examines the level of participation by workers in public and private-sector, employee-based pension or retirement plans, based on the U.S. Census’ Bureau’s March 2013 Current Population Survey, the most recent data available.
The report shows that among the 156.5 million Americans who worked in 2012, 76 million (48.6 percent) worked for employers or unions that sponsored a pension or retirement plan, and 61.6 million (39.4 percent) participated in a plan. Among private sector wage and salary workers, 53.3 million (48.5 percent of 110 million) worked for an employer sponsoring a plan and 43 million (39.1 percent) participated in the plan.
Rates are higher among public sector workers: 16.3 million (79.3 percent of 20.5 million) public sector employees worked for an employer that sponsors a plan. And 14.6 million (71.5 percent) participated in a plan.