Too Many Low-Income Workers Lack Access to Retirement Plans: EIG

More than half of American workers—55.5%—lack access to employer-sponsored retirement plans, according to data from a new EIG analysis released Aug. 10.

New data focused on analyzing state-by-state disparities from the Economic Innovation Group shows that in 2021, 69 million—equating to 55.5%—of workers lacked any kind of employer-provided retirement plan, and EIG found that group to be made up disproportionately of low-income earners.

“Unfortunately, access to employer-provided retirement plans remains deeply divided across earning levels and regions of the country,” the report states.