Proportion of workers offered 401(k) or 403(b)s Falls

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A new study from the New School in New York shows how the number of people able to save for retirement through an employer-sponsored plan fell from 2000 to 2010.

“Small firms have the lowest sponsorship rates, and this trend is accelerating in Connecticut. Of all firms, small firms with 1 to 24 employees showed the biggest proportional drop in sponsorship from 2000 to 2010. Sponsorship rates dropped from 34 percent to 27 percent in 2000, a change of 20 percent.”

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One thought on “Proportion of workers offered 401(k) or 403(b)s Falls

  1. alan

    that is why Hartford area state and local jobs including board of ed are so valuable. Instead of hoping some company that may fail will set up a retirement plan and match a little(and could go down), why not work for a state, local, or school entity that will put money in, make you match about the same as social security, and GUARANTEE that you will get a certain defined benefit for as long as you live. Even if the market goes down you get your money. Lets face it, a teacher, state worker, public safety getting a 60k pension will never be a burden to their kids..compared to an IT person with 250k in a retirement account. You should only care about your own situation- forget the theoretical argument about personal responsilbity and forget the unfunded pension.

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