Your plan "Participation Rate" is an overall indicator of many important details that underly it. How does your plan advisor work with the below information in your plan?
Among workers between ages 26 and 64, the probability that an employee participated in a retirement plan at his/her workplace spanned the following range:
- 22% for those earning less than $20,000;
- 67% for those earning $40,000 to $50,000; and
- 85% for those earning $100,000 or more.
See the full Investment Company Institute Study "Who Participats In Retirement Plans 2016" here.