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Access to Retirement Benefits Stagnates
Tweet Share on Facebook May 5, 2011 Comment (1)Thousands of new retirement plans were created by employers between 2003 and 2007. But most of these newly formed private sector retirement plans were offset by other plan terminations, according to a recent Government Accountability Office report. The proportion of workers who have access to 401(k)s or pensions at work has remained about 50 percent of the private sector workforce for most of the past two decades.
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GAO: 401(k)s Primarily Benefit the Wealthy
Tweet Share on Facebook May 3, 2011 Comment (5)High income employees receive the majority of the tax benefits of 401(k)s, according to a new Government Accountability Office report. The analysis found that 401(k) tax benefits accrue primarily to highly paid employees and do relatively little to help lower income workers save for retirement.
