There's a lot of talk about the adequacy of the current 401(k) system. Naysayers complain it's notbroadly accessible, and in a sense, that's true. According to thelatest data from the Bureau of Labor Statistics' NationalCompensation Survey, 40 percent of all workers don't have access toa defined contribution benefit. (The BLS istalking only about company-sponsored benefits, not IRAs.)

In lamenting the lack of 401(k) availability, some suggest we'dall be better off with defined benefit plans. Unfortunately, theBLS indicates 72 percent of all workers do not have access todefined benefit plans. Pensions don't appear to be as realistic analternative as some may think.

The BLS statistics include both government and private workers.This may skew the results more favorably to pensions (which mostgovernment workers have) and less favorably to 401(k) plans (whichmost government workers do not have). The best example is thebreakdown on “public administration” workers (not includingeducation and health services) offered by the BLS. While 87 percentof those workers have access to a defined benefit plan, only 36percent have access to a defined contribution plan.

The BLS's geographic data may be more interesting topractitioners seeking to align their business models to the regionsthey service. Roughly three-quarters (73 percent) of the workers inthe Northeast and West opt to participate in their company's 401(k)plan when their company offers one. The enthusiasm for the 401(k)is significantly greater than that demonstrated in the South andMidwest, where approximately two-thirds (65 percent and 69 percent,respectively) actively choose to enroll in their organization'sdefined contribution plan.

Based on these numbers, you'd think it might be easier tomaintain a retirement plan business in the Northeast or West,right? Not necessarily. While the workers in the Midwest and Southmany be less excited about their retirement plan, firms in thoseregions appear more willing to offer these plans compared to thosein the Northeast and West. The Midwest (63 percent) and the South(60 percent) surpass both the Northeast (58 percent) and West (52percent) in the percentage of companies providing access tocompany-sponsored defined contribution plans.

What can we conclude from this data? If you like working withdefined-contribution plan participants, you're better off being inthe Northeast or West. If, instead, you prefer working directlywith the company sponsors of defined-contribution plans, you mayfind it easier to work in the Midwest and South. Though the datarepresents percentages, it does give you a sense of the trends inthose regions.

How might you use this knowledge of the trend in your region?Famed behavioral psychologist Robert Cialdini says “social proof”is a powerful form of persuasion. The data suggests professionalscan use “social proof” of greater participant enthusiasm in theNortheast and West to encourage employees to participate in theirplans. Likewise, the same can be done in the Midwest and South toconvince companies to offer plans.

It's a subtle trick, but one worth knowing.