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Is Pension Inequality Growing?
The brief’s key findings are:
- Among workers whose employers offer a pension plan, participation rates are much lower for low earners and have declined over time.
- The decline is largely due to the rise of 401(k)s.
- Low earners often cite monetary constraints, though non-monetary reasons are also important.
- On the non-monetary side auto-enrollment should help, but little movement occurred between 2004 and 2007.