Savings and thrift plans in small private establishments
June 11, 1999
In small private establishments in 1996, about a quarter of full-time workers participated in savings and thrift plans. Participation in these plans varied by occupation—blue-collar and service employees were the least likely to participate.
[Chart data—TXT]
In 1996, 32 percent of professional and technical employees and 29 percent of clerical and sales employees participated in a savings and thrift plan. Only 16 percent of blue-collar and service employees were participants in such a plan.
In savings and thrift plans, employees may contribute a predetermined portion of earnings to an account. Savings and thrift plans allow employees to choose from a range of contribution rates. The average maximum contribution for all occupations in 1996 was 14 percent.
The Employee Benefits Survey produces data on participation on a variety of non-wage compensation items. More information on benefits in small firms is available in Employee Benefits in Small Private Establishments, 1996 BLS Bulletin 2507, (PDF 530K).
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