Employment-Based Retirement Plan Participation: Geographic Differences and Trends
32 Pages Posted: 18 Oct 2004
Abstract
This paper examines the level of participation by workers in employment-based (both public- and private-sector employers) pension or retirement plans, based on the U.S. Census Bureau's March 2004 Current Population Survey (CPS), the most recent data currently available. It begins with an overview of retirement plan types and participation in these types of plans. Next, it describes the data used in this study, along with their relative strengths and weaknesses. From these data, results on participation in employment-based retirement plans are analyzed for 2003 across various worker characteristics and those of their employers. The paper then explores retirement plan participation across U.S. geographic regions, including a state-by-state comparison and a comparison of certain consolidated metropolitan statistical areas (CMSAs). In addition to the results for 2003, trends from 1987-2003 in employment-based retirement plan participation are presented across the same worker characteristics and those of their employers as used for 2003. The paper concludes with a discussion of this study's findings.
Keywords: Demographics, Employment-based benefits, Pension plan coverage, Pension plan participation
JEL Classification: J33
Suggested Citation: Suggested Citation
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