The National Compensation Survey (NCS) Survey: 67 percent of private industry workers had access to retirement plans in 2020

  • The U. S. Bureau of Labor Statistics (BLS) conducted an employee benefits survey and found that as of March 2020 Sixty-seven percent of private industry workers had access to retirement plans in 2020. 

Fifty-two percent had access only to defined contribution retirement plans.

12 percent had access to both defined benefit and defined contribution retirement plans.

3 percent had access only to defined benefit retirement plans.

Full-time workers were more likely than part-time workers to have access to any type of retirement plan.

Overview

The National Compensation Survey (NCS) provides comprehensive measures of compensation cost trends and the coverage, costs, and provisions of employer-sponsored benefits in the United States. This bulletin presents 2020 estimates of the incidence and key provisions of employer-sponsored benefits for civilian workers, private industry workers, as well as state and local government workers by worker and establishment characteristics.

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

MENU