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What do you consider extremely rare? 13% of private sector employees still participate in a pension plan. It does seem very likely a large share of those are o

• dragonwriter 6y ago
  > What do you consider extremely rare? 13% of private sector employees still participate in a pension plan. Down from 18%, ~7 years before, when 39% and growing of those who still had pensions in the private sector had non-traditional pensions that weren't pure specified-benefit plans, but instead were (for the vast majority of non-traditional plans) hybrid cash-balance plans where the actual benefit is determined by investment returns through the point of retirement (basically, a defined contribution plan where the accumulated balance is used to purchase an annuity at retirement.) https://www.epi.org/blog/private-sector-pension-coverage-decline/ https://www.epi.org/blog/private-sector-pension-coverage-dec... IIRC, a big part of the decline being that for many private employers, pensions, especially traditional ones, are legacy plans that haven't been offered to employees for decades, and are only available to employees that have been working with the firm since they were generally available.