More people have 401(k)s, but participation in traditional pensions is more equal: Retirement plan participation of families age 32–61 by family income, race and ethnicity, education, gender, and marital status, 2016
| Characteristic | Defined benefit pension | 401(k)-style defined contribution plan |
|---|---|---|
| All | 19% | 44% |
| 1st (bottom) fifth | 6% | 10% |
| 2nd (lower-middle) fifth | 14% | 33% |
| 3rd (middle) fifth | 19% | 48% |
| 4th (upper-middle) fifth | 32% | 62% |
| 5th (top) fifth | 25% | 70% |
| Hispanic | 13% | 28% |
| Black | 17% | 33% |
| White non-Hispanic | 21% | 51% |
| No HS diploma/GED | 8% | 19% |
| HS diploma/GED | 17% | 37% |
| Some college | 21% | 43% |
| College degree or more | 24% | 59% |
Note: "College degree" includes associate degrees.
Source: EPI analysis of Survey of Consumer Finance data, 2016.