(Bloomberg) — Thinking about taking a job at a small company? Don't expect a good retirement plan.
At companies with fewer than 50 workers, not even half the employees have access to a 401(k) or pension, according to the Bureau of Labor Statistics. At companies with 500 workers or more, 90 percent of employees have access to a retirement plan.
This gives large corporations a huge advantage in hiring talented people, and it leaves millions of Americans without an easy way to save for their futures. Companies with fewer than 100 workers employ 36 percent of the U.S. workforce, or about 42 million people.
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