The latest data from the Bureau of Labor Statistics shows that 66 percent of workers in the private sector have access to a workplace retirement savings plan, but that access varies widely depending on how much money a worker makes.
Only 31 percent of workers in the lowest 10th percentile have access to a retirement plan, whereas 88 percent of workers in the highest wage category have access.
The numbers are much more promising for workers in the public sector. At the state and local level, 61 percent of workers in the lowest earning segment have access to plans, and 98 percent of the best-paid public employees have access to a plan, according to BLS's National Compensation Survey.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
