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Archived News Release--Caution:
information may be out of date.
I. DISTRIBUTION OF EMPLOYMENT BY FIRM SIZE
o According to the administrative data maintained by States
related to the unemployment insurance system the average level of employment in
businesses of all sizes in 1993 was approximately 91 million persons.
o Slightly more than 37 million of these workers were
employed by businesses (defined as workplaces using a common tax identification
number) which had fewer than 100 employees at all of their locations.
o This represents about 41% of the workforce.
Source: PWBA Tabulations of 1993 ES - 202 data
II. PENSION COVERAGE RATES
o Firms with fewer than 100 workers have significantly
lower rates of pension coverage.
o In 1993 50% of full time private sector wage and salary
workers were covered by a pension plan.
o In firms with fewer than 100 workers the coverage rate
for full time workers was 24%.
o This compares to a coverage rate of 68% in firms with
more than 100 workers.
FIRM SIZE COVERAGE RATE
|
ALL FIRMS |
50% |
|
FEWER THAN 100 WORKERS |
24% |
|
MORE THAN 100 WORKERS |
68% |
Source: Pension and Health Benefits of American Workers:
New findings from the April 1992 Current Population Survey. U.S. Department of
Labor.
III. RECEIPT OF PENSION BENEFITS
o Among retirees 55 years of age and older there are
significant differences in the receipt of benefits from private pension plans
associated with the size of the firm where they were previously employed.
o In 1994 about 43% of private sector retirees over 55
reported that they have a pension benefit.
o Among those who worked at a firm with fewer than 100
employees only 16% had a pension.
o This compares with 60% of those who worked in firms with
over 100 employees.
SIZE OF FORMER EMPLOYER PERCENT WITH A PENSION
|
ALL FIRMS |
43% |
|
FEWER THAN 100 WORKERS |
16% |
|
MORE THAN 100 WORKERS |
60% |
Source: Retirement benefits of American workers: New
findings from the September 1994 CPS. U.S. Department of Labor.
IV. POTENTIAL FOR NEW COVERAGE UNDER THE
ADMINISTRATIONS PROPOSAL
o The pool of workers who will potentially benefit from the
Administration's simplification proposal is comprised of workers in firms which
have fewer than 100 employees that do not currently sponsor a pension plan.
o In addition workers under the age of 21, those with fewer
than 2 years in their job and those who earn less than $5,000 per year
(primarily part time or part year workers) would not be likely to be covered by
a pension plan under the terms of the proposal.
o In 1993, there were just over 10 million workers who do
not currently have the opportunity to enroll in a pension plan and who would be
eligible under the terms of the proposal. This is the group who would benefit
from the enactment of the proposal.
Source: PWBA tabulations of the April 1993 CPS employee
benefits supplement
V. DISTRIBUTION OF AFFECTED WORKERS BY REGION
o The number of workers who could potentially receive new
coverage under the proposal is distributed throughout the entire country. The
distribution of employees in businesses with fewer than 100 workers and the
potentially affected group of these workers is shown below:
WORKERS IN AFFECTED REGION BUSINESSES WORKERS WITH <
100 (millions)
|
New England |
2.1 |
600,000 |
|
Mid Atlantic |
5.4 |
1,400,000 |
|
East North Central |
6.2 |
1,500,000 |
|
West North Central |
3.0 |
800,000 |
|
South Atlantic |
6.3 |
2,000,000 |
|
East South Central |
2.0 |
600,000 |
|
West South Central |
3.6 |
1,100,000 |
|
Mountain |
2.2 |
500,000 |
|
Pacific |
6.0 |
2,000,000 |
- - New England includes: Connecticut, Maine, Massachusetts, New
Hampshire, Rhode Island, Vermont
- - Mid Atlantic includes: New Jersey, New York, Pennsylvania
- - East North Central includes: Illinois, Indiana, Michigan, Ohio,
Wisconsin
- - West North Central includes: Iowa, Kansas, Minnesota, Missouri,
Nebraska, North Dakota, North Dakota
- - South Atlantic includes: Delaware, District of Columbia, Florida,
Georgia, Maryland, North Carolina, South Carolina, Virginia, West Virginia
- - East South Central includes: Alabama, Kentucky, Mississippi,
Tennessee
- - West South Central includes: Arkansas, Louisiana, Oklahoma, Texas
- - Mountain includes: Arizona, Colorado, Idaho, Montana, Nevada, New
Mexico, Utah, Wyoming
- - Pacific includes: Alaska, California, Hawaii, Oregon, Washington
Archived News Release--Caution:
information may be out of date.
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