October 03, 2003
In March 2003, just under half of private industry employees participated in an employer provided retirement plan.
Twenty percent of private industry employees were in defined benefit plans and 40 percent were covered by defined contribution plans. (Some employees participate in both types.)
The overall coverage of retirement plans has held relatively steady for the last few years. The mix of plans, however, has changed. Defined benefit plans cover a smaller portion of workers than they did 10 years ago, while defined contribution plans cover a larger portion.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Retirement plans in 2003 at https://www.bls.gov/opub/ted/2003/sept/wk5/art05.htm (visited May 22, 2022).