After growing sharply throughout the 1990s, participation rates in 401(k)s leveled off during the next decade, especially during the period between 2005 and 2009, according to trend analysis from the Employee Benefit Research Institute. In the case of IRA ownership, the rates declined slightly for the same period.
The EBRI report finds that the proportion of workers ages 21–64 (those most likely to be in the work force) participating in a 401(k)-type plan increased from 23.3% in 1996 to 33.1% in 2005, before leveling off at 33% in 2009.
For IRAs, the report finds that after increasing from 17% at the end of 1996 to 22.9% at the end of 2005, the percentage of workers ages 21–64 who owned an IRA declined to 20.8% by the end of 2009.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
