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Less than 13% of US private sector workers participate in pensions plans[0]. [0]https://www.pensionrights.org/publications/statistic/how-many-american-workers-

Less than 13% of US private sector workers participate in pensions plans[0]. [0]https://www.pensionrights.org/publications/statistic/how-many-american-workers-participate-workplace-retirement-plans https://www.pensionrights.org/publications/statistic/how-man...

Domenic_S 7y ago
Nearly 22 million people work for the state, federal, and local governments, nearly 20% of the active workforce. https://www.bls.gov/oes/current/999001.htm https://www.bls.gov/oes/current/999001.htm
- tomtheelder 7y ago
  Okay so adding those numbers with the private sector ones you still get that the vast majority of American's aren't benefiting.
  - Domenic_S 7y ago
    I don't know if I'd characterize 66% of Americans (100% - (public + private)) the "vast majority"...
  - ericd 7y ago
    You’re also forgetting all the people without pensions, but with IRAs and/or 401ks. And then the many more with brokerage accounts. And young people seem to have jumped headlong into Robinhood.
2zcon 7y ago
You're not including the defined contribution retirement plans, which are a vehicle for investment. N.B. I believe 'pension' ≡ 'defined benefit' is an American English thing, which may the source of the confusion. I, my employer, and my provider refer to my private, defined-contribution plan as a pension.
- sneakernets 7y ago
  Correct, we do have legal US definitions which makes pensions different than DC Plans.
briandear 7y ago
However less than 2.3% of hourly workers (not total workers, but hourly workers) make minimum wage, yet those that claim a good stock market doesn’t benefit most people would argue fiercely over minimum wage which affects only a tiny fraction of workers. So we should be applauding something that benefits “only” 13% of the workforce (though that 13% number with pensions is misleadingly low as pointed out by other comments.)

Domenic_S 7y ago

Nearly 22 million people work for the state, federal, and local governments, nearly 20% of the active workforce. https://www.bls.gov/oes/current/999001.htm https://www.bls.gov/oes/current/999001.htm

tomtheelder 7y ago
Okay so adding those numbers with the private sector ones you still get that the vast majority of American's aren't benefiting.
- Domenic_S 7y ago
  I don't know if I'd characterize 66% of Americans (100% - (public + private)) the "vast majority"...
- ericd 7y ago
  You’re also forgetting all the people without pensions, but with IRAs and/or 401ks. And then the many more with brokerage accounts. And young people seem to have jumped headlong into Robinhood.

2zcon 7y ago

You're not including the defined contribution retirement plans, which are a vehicle for investment. N.B. I believe 'pension' ≡ 'defined benefit' is an American English thing, which may the source of the confusion. I, my employer, and my provider refer to my private, defined-contribution plan as a pension.

sneakernets 7y ago
Correct, we do have legal US definitions which makes pensions different than DC Plans.

briandear 7y ago

However less than 2.3% of hourly workers (not total workers, but hourly workers) make minimum wage, yet those that claim a good stock market doesn’t benefit most people would argue fiercely over minimum wage which affects only a tiny fraction of workers. So we should be applauding something that benefits “only” 13% of the workforce (though that 13% number with pensions is misleadingly low as pointed out by other comments.)