The survey found 113 million people, between the ages of 25 and 64, worked for pay in 2000, with 64% working for an employer that sponsored a retirement plan. Of this total, 11% report their employers offered retirement savings, but they were not included in those plans.
The remaining 36% worked for an employer that did not offer a retirement plan.
The 72 million workers that had a retirement plan offered to them, only 42% owned one or more retirement accounts, including IRAs, Keogh accounts, 401(k) and other employee-sponsored savings plans:
- 31% owned a 401(k)
- 9% owned an IRA or Keogh plan (predominately IRAs)
- 8% owned both an IRA/Keogh and a 401(k)
Among all workers owning a retirement savings plan in 2000, the report found the mean value to be $45,960. The median value of all these accounts was $18,000.
Combining all household retirement accounts revealed the mean value was $71,040 and the median value was $31,000.
However, an estimated 7 million workers between the ages of 55 and 64, representing 50% of all workers in this age category, owned at least one retirement account in 2000. The mean value of these workers’ accounts was $71,910, and the median value was $33,000.
Combined household retirement accounts showed the mean value was $107,040, and the median value was $56,000.
« Alliance Takes Florida Judge's Blast over Suit Documents