51 Percent of Private Industry Workers Have Access to Only DC Retirement Plans

51 Percent of Private Industry Workers Have Access to Only DC Retirement Plans

51 percent of private industry workers had access to only defined contribution retirement plans through their employers, according to Bureau of Labor Statistics.

Research of March 2018 data found 13 percent had access to both defined benefit and defined contribution plans, while 4 percent had access to only DB plans.

Access rates for DB plans were highest among union workers - 34 percent has access to only DB plans. Workers in service-providing industries had higher access rates for only DC plans at 50 percent.

As for businesses with fewer than 100 workers, 46 percent of workers had access to only DC retirement plans.

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