Tag: coverage gap
At any moment in time, only half of U.S. private-sector workers are participating in an employer-sponsored retirement plan, mainly due to lack of coverage. As a result, roughly one-third of households end up completely reliant on Social Security at retirement, while others move in and out of coverage throughout their careers…
The retirement plan coverage gap, which undermines the financial security of millions of U.S. workers, is driven by the lack of plans among small employers. Despite various efforts by policymakers across several decades to develop affordable and simple plans, many small businesses still overestimate the cost and administrative burden required to offer a plan, perceiving…
