Report: Private-sector workers less likely to participate in employer-provided retirement plans
It still pays to work for a larger company when it comes to paid medical and retirement benefits.
The U.S. Bureau of Labor Statistics reported Friday that 84 percent of workers at companies with 100 or more employees had access to employer-provided medical care.
At establishments of fewer than 100 employees, that figure dropped to 57 percent, according to the BLS, which pulled March data from the National Compensation Survey.
In the private sector, 86 percent of full-time workers had access to employer-provided medical care. By contrast, only 23 percent of part-time workers had medical benefits available.
For those in the lowest 10 percent of average earnings, employers paid 70 percent of the single coverage medical plan premium, according to the BLS. For employees in the highest 10 percent, the employer share of the premium was 81 percent. For family coverage, it was 57 percent for employees in the lowest 10 percent of earnings and 72 percent for those in the highest 10 percent.
On retirement benefits, nearly three-quarters of full-time workers in the private sector had access to a retirement plan — twice that of part-time workers.
By company size, half of workers in small establishments had retirement benefits, while 82 percent of workers in larger companies had access.
Of the 65 percent of private-sector employees with access to retirement benefits, 48 percent participated in those plans, according to the BLS.
By comparison, 89 percent of state and local government employees had access and 81 percent participated.
The BLS also reported data on paid sick leave, life insurance benefits and paid holidays.
Paid sick leave benefits were offered to 74 percent of full-time workers and 24 percent of part-time workers, according to the BLS. In private industry, 72 percent of full-time workers and 13 percent of part-time workers had access to life insurance benefits.
In government, the latter was available to 90 percent of full-time workers and 22 percent of part-time workers.
Paid holidays were provided to 90 percent of full-time workers and 37 percent of part-time workers in private industry. In government, those figures were 74 percent of full-time workers and 30 percent of part-time workers, according to the BLS.