A study issued by the Investment Company Institute reports that companies with an older, higher-earning workforce are more likely to offer retirement plans than those with younger, lower-income employees. According to "Who Gets Retirement Plans and Why, 2010," workers at small employers that sponsor retirement plans are as likely to participate as workers at large employers sponsoring retirement plans.
In addition, the study shows that 39% of workers aged 21 to 29 worked
for employers that sponsored retirement plans in 2010, compared to 57% of workers aged 55 to 64. Similarly, 23% of workers in the lowest quintile of annual earnings ($14,000 or less) worked for employers with retirement plans, compared with 74% of workers in the highest quintile ($60,000 or more. "Employees also were more likely to report that they worked for an employer that sponsored a plan if they were more fully engaged in the workforce."
Source: Investment Company Institute News Release (October 31, 2011)