Employees of small firms are more likely to be covered by pension plans than employees of large firms.

Question

Quizplus · Accepted Answer

According to the data from the Bureau of Labor Statistics, employees of large firms (those with 500 or more employees) are more likely to have access to employer-sponsored retirement plans, including a 401(k) or traditional pension plan. This is likely due to the fact that larger firms have more resources and economies of scale that make offering retirement plans more feasible.

Employees of Small Firms Are More Likely to Be Covered