Figure 1
Retirement plan participation has declined even as baby boomers have approached retirement: Share of families age 32–61 participating in retirement plans by type, 1989–2013
Defined-benefit plan | Defined-contribution plan | Both types of plans | Any plan | |
---|---|---|---|---|
1989 | 41% | 35% | 17% | 58% |
1992 | 33% | 35% | 13% | 54% |
1995 | 28% | 41% | 12% | 56% |
1998 | 26% | 46% | 13% | 59% |
2001 | 28% | 47% | 15% | 60% |
2004 | 25% | 44% | 11% | 57% |
2007 | 25% | 47% | 14% | 57% |
2010 | 22% | 42% | 11% | 53% |
2013 | 21% | 43% | 11% | 53% |
Note: Since DC and DB shares include families with both kinds of plans, the share with both types is subtracted from the total to produce the share with any plan. Shares indicate whether either the respondent or his or her spouse participated in such a plan or plans on a current job (individual participation rates are lower).
Source: EPI analysis of Survey of Consumer Finance data, 2013.
This chart appears in:
- Chartbook-No Figure Labels
- The State of American Retirement: How 401(k)s have failed most American workers
- The State of American Retirement: How 401(k)s have failed most American workers
- The State of American Retirement: How 401(k)s have failed most American workers
- Retirement Inequality Chartbook 2014
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