Nearly two-thirds of private industry workers had access to a retirement plan in March 2012, according to the Bureau of Labor Statistics, and 48% of workers with access to a plan chose to participate.

Having access to a retirement defined benefit pension or defined contribution plan through work depended on occupation, full- or part-time status, union membership and wage category, according to the BLS.

Those who worked in management, professional and related occupations had nearly twice the access rate and more than three times the participation rate of service occupations, like healthcare support, protective service, food preparation, maintenance and personal care workers.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.