In large U.S. establishments with 500 or more employees, 91 percent of workers have access to a retirement plan, according to the U.S. Census. In comparison, among companies with less than 50 employees, only 46 percent of workers have retirement plan access.
This is known as the "retirement coverage gap," and for decades policymakers have been trying to close it—to little avail.
Now, however, the trend is changing with state-based initiatives that will require most employers to offer all workers retirement plan access. Now is the time to increase awareness of this trend among your small-business clients. Some may choose to start their own plans sooner, rather than be roped into state-run plans later.
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