Retirement plan participation benchmarks
July 13, 2009 by Bill MeltzerPosted in: Latest News & Views, Pay and benefits
How does your retirement-plan participation rate stack up against other employers’?
The expected participation rate may vary not only by your industry but also by your location. On a national level, 52% of employees participate.
According to EBRI here are the five top and bottom states for retirement plan (defined benefit or defined contribution) participation.
Top 5:
- Wisconsin (67.7% participation average)
- Iowa (66.9%)
- North Dakota (65.8%)
- Connecticut (65.0%)
- Minnesota (64.1%)
Bottom 5:
- Florida (41.8% average participation)
- Arizona (44.3%)
- Louisiana (46.7%)
- Texas (48.8%)
- Nevada (50.3%)
Tags: 401(k), benchmarks, benefits, participation, retirement plans
