Employer-provided plans are a key element of our nation’s retirement system and have contributed to the financial security of American workers for over a century. In 2016 alone, private employers spent more than $242 billion on retirement income benefits. The U.S. Chamber of Commerce has prepared this publication to exemplify the efforts of these employers to ensure a financially sound future for their employees.
The number of workers being offered retirement plans continues to rise. The Bureau of Labor Statistics (BLS) reported that 66% of American workers had access to a retirement plan from their employer through a mix of defined contribution and defined benefit plans in 2016. This is up significantly from the turn of the century, when only 48% of American workers were offered a retirement plan in 1999.
Among several retirement security vehicles discussed in this publication, defined contribution plans continue to be a popular source for retirement savings for workers. According to the BLS, 62% of employees (more than 95 million participants) were eligible to participate in these types of plans in 2016. Additionally, among employers that made both profit-sharing and 401(k) contributions, the average employer contribution was 5.5% of employee pay. Defined benefit retirement plans are also still prevalent among workers, with over 41 million private sector participants in the U.S.
The 2026 State of American Business
Discover what U.S. Chamber President and CEO Suzanne Clark and leading business leaders are saying about the state of the economy and the top issues shaping the domestic and global business landscape in 2026 and beyond.
