When lower-income workers have access to a pension plan at work, their eligibility and take-up rates are nearly equivalent to higher-income workers.
That's one of the big takeaways in a study by researchers April Yanyuan Wu and Matthew S. Rutledge of the Center for Retirement Research at Boston College, who set out to explore the impact that a lack of a pension plan has on lower-income individuals.
Not surprisingly, they found that people who make less money have a smaller probability of working for a company that offers a pension plan than their higher-income counterparts.
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