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FACT SHEET: Final Rule on Association Retirement Plans

July 29, 2019
By U.S. Department of Labor

Expands access to affordable quality retirement saving options for Americans working in small and mid-sized businesses.

According to a 2018 study by the U.S. Bureau of Labor Statistics, approximately 38 million private-sector employees in the United States do not have access to a retirement savings plan through their employers. Approximately 85% of workers at private-sector establishments with 100 or more workers were offered a retirement plan. In contrast, only 53% of workers at private-sector establishments with fewer than 100 workers had access to such plans.
 
A survey by the Pew Charitable Trusts found that only 53% of small-to mid-sized businesses offer a retirement plan; 37% of those not offering a plan cited cost as a reason.
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Employment Economy