{ "id": "R43439", "type": "CRS Report", "typeId": "R", "number": "R43439", "active": true, "source": "CRSReports.Congress.gov, EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source_dir": "crsreports.congress.gov", "title": "Worker Participation in Employer-Sponsored Pensions: Data in Brief", "retrieved": "2021-12-17T04:03:28.991575", "id": "R43439_12_2021-11-23", "formats": [ { "filename": "files/2021-11-23_R43439_e93b101479c8ac1bdef5ccf1088759d6c30a819d.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R43439/12", "sha1": "e93b101479c8ac1bdef5ccf1088759d6c30a819d" }, { "format": "HTML", "filename": "files/2021-11-23_R43439_e93b101479c8ac1bdef5ccf1088759d6c30a819d.html" } ], "date": "2021-11-23", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "R", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R43439", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "Worker Participation in Employer-Sponsored Pensions: Data in Brief", "retrieved": "2021-12-17T04:03:28.991006", "id": "R43439_11_2020-12-01", "formats": [ { "filename": "files/2020-12-01_R43439_cc8dc199b2f656c46646a609d0620ed1a6fba393.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R43439/11", "sha1": "cc8dc199b2f656c46646a609d0620ed1a6fba393" }, { "format": "HTML", "filename": "files/2020-12-01_R43439_cc8dc199b2f656c46646a609d0620ed1a6fba393.html" } ], "date": "2020-12-01", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "R", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R43439", "type": "CRS Report" }, { "source": "EveryCRSReport.com", "id": 597416, "date": "2019-04-30", "retrieved": "2019-12-20T19:20:02.712174", "title": "Worker Participation in Employer-Sponsored Pensions: A Fact Sheet", "summary": "Employers in the United States offering a pension may offer their workers a defined benefit (DB) pension, a defined contribution (DC) pension (such as 401(k) plans), or both. This fact sheet summarizes Bureau of Labor Statistics (BLS) data from March 2018 on access to and participation rates in retirement plans among U.S. workers classified by various attributes.\nAbout 70% of all U.S. workers have access to an employer-sponsored pension, and about 54% of U.S. workers participate in an employer-sponsored pension. Access and participation rates vary with various worker attributes. These attributes include whether the workers are full-time or part-time, whether they work in the private or public sector, and whether or not they belong to a union. The data also classify access and participation rates by the average wages of workers\u2019 occupations and the number of employees at workers\u2019 place of employment. \nKeywords:\npensions\npension plan\nretirement\n401(k)\ndefined contribution\ndefined benefit", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R43439", "sha1": "fd6a586959be3120465452cd191c56d8967fb331", "filename": "files/20190430_R43439_fd6a586959be3120465452cd191c56d8967fb331.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R43439", "sha1": "42735751494db218e4d607c12928ca26b5fd8611", "filename": "files/20190430_R43439_42735751494db218e4d607c12928ca26b5fd8611.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4869, "name": "Pensions & IRAs" } ] }, { "source": "EveryCRSReport.com", "id": 584953, "date": "2018-09-10", "retrieved": "2018-09-12T22:18:31.021281", "title": "Worker Participation in Employer-Sponsored Pensions: A Fact Sheet", "summary": "Employers in the United States offering a pension may offer their workers a defined benefit (DB) pension, a defined contribution (DC) pension (such as 401(k) plans), or both. This fact sheet summarizes Bureau of Labor Statistics (BLS) data from March 2017 on access to and participation rates in retirement plans among U.S. workers classified by various attributes.\nAbout 70% of all U.S. workers have access to an employer-sponsored pension, and about 54% of U.S. workers participate in an employer-sponsored pension. Access and participation rates vary with various worker attributes. These attributes include whether the workers are full-time or part-time, whether they work in the private or public sector, and whether or not they belong to a union. The data also classify access and participation rates by the average wages of workers\u2019 occupations and the number of employees at workers\u2019 place of employment. \nKeywords:\npensions\npension plan\nretirement\n401(k)\ndefined contribution\ndefined benefit", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43439", "sha1": "a34f87d3401fa025b3d3d9d3c1db223d2ea4991e", "filename": "files/20180910_R43439_a34f87d3401fa025b3d3d9d3c1db223d2ea4991e.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43439", "sha1": "99d2f2b2632a3d9bb2bce3b865ee7f8b230bc703", "filename": "files/20180910_R43439_99d2f2b2632a3d9bb2bce3b865ee7f8b230bc703.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4869, "name": "Pensions & IRAs" } ] }, { "source": "EveryCRSReport.com", "id": 459192, "date": "2017-02-27", "retrieved": "2017-03-01T17:36:40.988380", "title": "Worker Participation in Employer-Sponsored Pensions: A Fact Sheet", "summary": "Employers in the United States offering a pension may offer their workers a defined benefit (DB) pension, a defined contribution (DC) pension (such as 401(k) plans), or both. This fact sheet summarizes Bureau of Labor Statistics (BLS) data from March 2016 on access to and participation rates in retirement plans among U.S. workers classified by various attributes.\nAbout 69% of all U.S. workers have access to an employer-sponsored pension, and about 54% of U.S. workers participate in an employer-sponsored pension. Access and participation rates vary with various worker attributes. These attributes include whether the workers are full-time or part-time, whether they work in the private or public sector, and whether or not they belong to a union. The data also classify access and participation rates by the average wages of workers\u2019 occupations and the number of employees at workers\u2019 place of employment. \nKeywords:\npensions\npension plan\nretirement\n401(k)\ndefined contribution\ndefined benefit", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43439", "sha1": "bc170fafd71faf278b927663c15df205a6ad32de", "filename": "files/20170227_R43439_bc170fafd71faf278b927663c15df205a6ad32de.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43439", "sha1": "5799c7942dcdb219ae49485f5661924da37e37cb", "filename": "files/20170227_R43439_5799c7942dcdb219ae49485f5661924da37e37cb.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4869, "name": "Pensions & IRAs" } ] }, { "source": "EveryCRSReport.com", "id": 444043, "date": "2015-02-02", "retrieved": "2016-04-06T19:34:08.306599", "title": "Worker Participation in Employer-Sponsored Pensions: A Fact Sheet", "summary": "Congressional Research Service\n7-5700\nwww.crs.gov\nR43439\nSummary\nEmployers in the United States may offer their workers one of two types of pension plans: defined benefit (DB) pensions and/or defined contribution (DC) pensions (such as 401(k) plans). This fact sheet summarizes Bureau of Labor Statistics (BLS) data from March 2013 on access to and participation rates in retirement plans among U.S. workers classified by various attributes.\nAbout 68% of all U.S. workers have access to an employer-sponsored pension, and about 53% of U.S. workers participate in an employer-sponsored pension. Access and participation rates vary with various worker attributes. These attributes include whether the workers are full-time or part-time, whether they work in the private or public sector, and whether or not they belong to a union. The data also classify access and participation rates by the wages of workers\u2019 occupations and the number of employees at workers\u2019 place of employment. \nKeywords:\npensions\npension plan\nretirement\n401(k)\ndefined contribution\ndefined benefit\nContents\nWorker Participation in Employer-Sponsored Pensions\t1\n\nTables\nTable 1. Access and Participation Rates in Employer-Sponsored Pension Plans\t1\n\nContacts\nAuthor Contact Information\t2\n\nT\nhis fact sheet provides data on the percentage of American workers who have access to and who participate in employer-sponsored pension plans. The data are from the National Compensation Survey (NCS), which is conducted by the Bureau of Labor Statistics (BLS). The NCS provides data on occupational earnings and the availability of employee benefits among U.S. workers.\nWorker Participation in Employer-Sponsored Pensions\nA pension is a voluntary benefit offered by some employers in which employees and employers defer current wages to receive income in retirement. Pension plans that meet the requirements specified in the Internal Revenue Code are called qualified plans and receive specified tax advantages. Employers may offer two types of pension plans: defined benefit (DB) plans or defined contribution (DC) plans. (Some employers offer both.) DC pension plans are more common than DB pension plans.\nIn DB pension plans, participants receive monthly payments in retirement that are based on a formula that typically uses a combination of length of service, accrual rate, and average of final years\u2019 salary. For example, a plan might specify that retirees receive an amount equal to 1.5% of their pay for each year of service, where the pay is the average of a worker\u2019s salary during his or her highest-paid five years. \nIn DC plans\u2014of which 401(k) plans, 403(b) plans, 457(b) plans, and the Thrift Savings Plan (TSP) are the most common\u2014workers contribute a percentage of their wages to an individual account established by the employer. Employers may also contribute a match to the DC plan, which is an additional contribution equal to some or all of the worker\u2019s contribution. The account accrues investment returns and is then used as a basis for income in retirement.\nTable 1 contains both access and participation rates separately for workers in DB and DC plans (and for either plan). BLS indicates that employees are considered to have access to a benefit plan if it is available for their use and are considered participants if they have fulfilled any applicable service requirements. \nNot all workers who have access to a pension plan at work participate in the plan. In addition, the percentage of workers who participate in plans to which they have access differs between DB and DC plans. The take-up rate is defined as the percentage of workers who participate in a plan to which they have access. Because most DB plans are funded entirely from employer contributions, among workers that have access to a DB plan, the take-up rate is 89%. Among workers that have access to a DC plan, the take-up rate is 68%. Among the reasons for the lower take-up rates for DC plans compared with DB plans are the following: (1) until recently, workers had to make an active decision to participate in DC plans, which meant that workers might delay (and eventually forget about) the decision to participate, and (2) because DC plans are at least partially funded by employee contributions, some workers might prefer to receive the money as current wages rather than delay the income until they retire.\nThe data in Table 1 are classified by a variety of attributes that highlight differences in pension plan participation rates among workers. Key distinctions in the data include\nA greater percentage of full-time workers participate in pension plans compared with part-time workers. Among full-time civilian workers, 64% participate in a pension plan; among part-time civilian workers, 21% participate in a pension plan.\nA greater percentage of public-sector workers participate in pension plans compared with private-sector workers. Public-sector workers are more likely to participate in DB pension plans, whereas private-sector workers are more likely to participate in DC pension plans.\nParticipation rates increase as workers\u2019 wages increase. For example, 18% of private-sector workers in occupations with the lowest 25% of average wages participate in employer-sponsored pensions, whereas 75% of workers in occupations in the highest 25% of average wages do.\nParticipation rates increase as the size of workers\u2019 firms increase. For example, 32% of private-sector workers in firms with fewer than 50 employees participate in employer-sponsored pensions, whereas 77% of workers in firms with 500 or more employees do.\nTable 1. Access and Participation Rates in Employer-Sponsored Pension Plans\n\n\nEither Defined Benefit or Defined Contribution\nDefined Benefit\nDefined Contribution\n\n\n\nAccess\nParticipation\nAccess\nParticipation\nAccess\nParticipation\n\nCivilian Workersa\nAll workers\n68%\n53%\n28%\n25%\n56%\n38%\n\n\nFull-time\n78%\n64%\n34%\n30%\n65%\n46%\n\n\nPart-time\n37%\n21%\n11%\n8%\n30%\n14%\n\nPrivate-Sectorb Workers\nAll workers\n65%\n48%\n19%\n16%\n60%\n42%\n\n\nFull-time\n74%\n58%\n22%\n19%\n70%\n52%\n\n\nPart-time\n37%\n19%\n8%\n6%\n32%\n15%\n\n\nUnion\n92%\n83%\n71%\n66%\n56%\n45%\n\n\nNonunion\n62%\n45%\n13%\n11%\n61%\n42%\n\n\nAverage Wage of Occupation\n\n\n\nLowest 25%\n38%\n18%\n5%\n3%\n36%\n16%\n\n\n\nSecond 25%\n67%\n47%\n14%\n11%\n62%\n41%\n\n\n\nThird 25%\n76%\n62%\n24%\n21%\n70%\n53%\n\n\n\nHighest 25%\n85%\n75%\n36%\n32%\n80%\n66%\n\n\nNumber of Employees at Place of Employment\n\n\n\n1 to 49 \n45%\n32%\n7%\n6%\n44%\n30%\n\n\n\n50 to 99 \n63%\n43%\n12%\n11%\n58%\n38%\n\n\n\n100 to 499\n78%\n55%\n20%\n17%\n72%\n48%\n\n\n\n500 or more\n89%\n77%\n46%\n41%\n80%\n63%\n\nState and Localc Government Workers\nAll workers\n89%\n85%\n83%\n78%\n32%\n15%\n\n\nFull-time\n99%\n94%\n92%\n87%\n36%\n17%\n\n\nPart-time\n39%\n35%\n36%\n33%\n9%\n4%\n\n\nState government\n93%\n87%\n86%\n78%\n43%\n22%\n\n\nLocal government\n88%\n84%\n82%\n78%\n28%\n13%\n\nSource: March 2014 National Compensation Survey (NCS). Data on civilian workers are available at http://www.bls.gov/ncs/ebs/benefits/2014/ownership/civilian/table02a.htm; private-sector workers at http://www.bls.gov/ncs/ebs/benefits/2014/ownership/private/table02a.htm; and state and local government workers at http://www.bls.gov/ncs/ebs/benefits/2014/ownership/govt/table02a.htm. \nNotes: Definitions are available in the Glossary of Employee Benefit Terms available at http://www.bls.gov/ncs/ebs/glossary20122013.htm and BLS Information Glossary at http://www.bls.gov/bls/glossary.htm#C.\nDefined by BLS as all private-industry and state and local government workers, excluding federal government, military, and agricultural workers. \nReferred to in the NCS as private-industry workers, excluding agricultural workers and private households. \nReferred to in the NCS as public-sector workers, excluding federal workers.\n\nAuthor Contact Information\n\nJohn J. Topoleski\nAnalyst in Income Security\njtopoleski@crs.loc.gov, 7-2290", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R43439", "sha1": "50ceef7389d9de6d3311cf4ee93dd8f03b8e38f5", "filename": "files/20150202_R43439_50ceef7389d9de6d3311cf4ee93dd8f03b8e38f5.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R43439", "sha1": "7e0af7ca2c1ff5e5940d510742626f6adf44d9c2", "filename": "files/20150202_R43439_7e0af7ca2c1ff5e5940d510742626f6adf44d9c2.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 446, "name": "Pensions and Retirement Savings" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc284474/", "id": "R43439_2014Mar26", "date": "2014-03-26", "retrieved": "2014-05-06T21:21:54", "title": "Worker Participation in Employer-Sponsored Pensions: A Fact Sheet", "summary": "The main part of this report is a fact sheet that provides data on the percentage of American workers who have access to and who participate in employer-sponsored pension plans. The data was collected by the Bureau of Labor Statistics (BLS) through the National Compensation Survey (NCS).", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20140326_R43439_0897cc0e09f3443155dd3f2446c59ae5fd15ee03.pdf" }, { "format": "HTML", "filename": "files/20140326_R43439_0897cc0e09f3443155dd3f2446c59ae5fd15ee03.html" } ], "topics": [ { "source": "LIV", "id": "Employee benefit", "name": "Employee benefit" }, { "source": "LIV", "id": "Workers' compensation", "name": "Workers' compensation" }, { "source": "LIV", "id": "Pensions", "name": "Pensions" } ] } ], "topics": [ "Domestic Social Policy", "Economic Policy" ] }