Researchers at the Employee Benefit Research Institute (EBRI) in their report also backed up the current reality of bigger employers being more likely to offer retirement plans than smaller employers. Some of the statistics from the report include:
Only 15.8% of workers at the smallest employers participated in retirement plans in 2005, compared with 25.1% at employers with 10 to 24 employees, 36.9% at employers with 25 to 99 employees and 48.4% at employers with 100 to 499 employees.
Employers with 25 to 99 employees saw participation rates fall 2.7 percent, “the biggest rate drop EBRI has recorded for employers with 1 to 500 employees since at least 1987.” That statistic is astonishing and yet not too surprising in today’s economy and lack of financial education.
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