CFED Scorecard

Financial Assets & Income

Outcome Measures

Income Poverty Rate

Asset Poverty Rate

Asset Poverty by Race

Asset Poverty by Gender

Asset Poverty by Family Structure

Liquid Asset Poverty Rate

Liquid Asset Poverty by Race

Liquid Asset Poverty by Gender

Liquid Asset Poverty by Family Structure

Extreme Asset Poverty Rate

Net Worth

Net Worth by Race

Net Worth by Income

Net Worth by Gender

Net Worth by Family Structure

Unbanked Households

Underbanked Households

Households with Savings Accounts

Consumers with Subprime Credit

Borrowers 90+ Days Overdue

Average Credit Card Debt

Bankruptcy Rate

Policy Priorities

Tax Credits for Working Families

State IDA Program Support

Lifting Asset Limits in Public Benefit Programs

Protections from Predatory Short-Term Loans

Additional Policies

Income Tax Threshold

Tax Burden by Income

Prize-Linked Savings

Paperless Payday

Trend Indicators

Change in Net Worth

Change in Asset Poverty

Change in Liquid Asset Poverty

Change in Consumers with Subprime Credit

Change in Average Credit Card Debt

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Retirement Plan Participation

Reports & Graphics

Definition

Percentage of wage and salary workers (ages 21-64) who participated in an employment-based retirement plan, 2011.

Description

Participation in payroll-based retirement plans, i.e., pension plans or 401(k)s, is one of the most successful ways to save for retirement. However, many employers, especially smaller ones or those in low-wage industries, don’t offer the opportunity to enroll in a retirement plan, and not all employees in companies with retirement benefits are eligible to participate. Even when given the option to enroll in a plan, many employees fail to initiate the process due to the complicated nature of retirement plans or the steps necessary to enroll.

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Retirement Plan Participation

StatePercent of Workers Participating in
Employment-Based Retirement Plan (%)
Rank
United States  44.6%   
Alabama  51.8% 
Alaska  50.0%  13 
Arizona  38.1%  48 
Arkansas  41.2%  44 
California  39.0%  47 
Colorado  47.8%  25 
Connecticut  50.9% 
Delaware  50.2%  12 
District of Columbia  51.8% 
Florida  36.2%  50 
Georgia  41.1%  45 
Hawaii  44.3%  39 
Idaho  44.6%  38 
Illinois  46.2%  30 
Indiana  50.6%  11 
Iowa  51.3% 
Kansas  51.9% 
Kentucky  47.1%  28 
Louisiana  37.9%  49 
Maine  46.6%  29 
Maryland  50.0%  13 
Massachusetts  45.5%  34 
Michigan  41.7%  42 
Minnesota  54.6% 
Mississippi  42.0%  41 
Missouri  49.3%  17 
Montana  45.3%  36 
Nebraska  48.5%  22 
Nevada  35.9%  51 
New Hampshire  49.6%  15 
New Jersey  45.2%  37 
New Mexico  46.0%  31 
New York  46.0%  31 
North Carolina  43.3%  40 
North Dakota  56.6% 
Ohio  47.6%  27 
Oklahoma  48.7%  19 
Oregon  48.3%  24 
Pennsylvania  48.6%  20 
Rhode Island  49.5%  16 
South Carolina  45.5%  34 
South Dakota  50.8%  10 
Tennessee  45.6%  33 
Texas  39.6%  46 
Utah  41.7%  42 
Vermont  47.8%  25 
Virginia  52.9% 
Washington  48.6%  20 
West Virginia  49.3%  17 
Wisconsin  52.2% 
Wyoming  48.4%  23 

Source

Copeland, Craig. Issue Brief No. 378: Employment-Based Retirement Plan Participation: Geographic Differences and Trends, 2011. Washington, DC: Employee Benefit Research Institute, 2012.

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