To help provide information and context about the role of pensions in providing retirement readiness for American workers, NIRS has published "Pensions by the Numbers" and "Who Has a Pension."

Key pension statistics included in these Fact Sheets are as follows:

WHO HAS A PENSION?

Among Older Households:

• In 2006, nearly half of all American households whose head was age 60 or older had income from their own or a spouse’s pension. 

Among Current Workers:

• In 2007, 21 million private-sector American workers had access to a workplace DB pension plan. State and local pension plans served 7.5 million retirees and beneficiaries, as well as 14.2 million active and 4.2 million inactive members in 2007.

In the Private Sector:

• In 2007, 32% of employees of firms with 100 or more workershad a DB pension, as compared to just 9% for employees of firms with less than 100 workers.
• In 2007, 23% of full-time private-sector workers had a DB plan, as compared to just 9% of part-time workers.

Among Demographic Groups:

• In 2006, just 23% of women had a DB pension, as compared to 42% of men.
• Among racial and ethnic groups, 33% of whites and 32% of blacks aged 60 and older, but just 23% of Hispanics, had pension income in 2006.  

HOW MUCH PENSION INCOME DO AMERICANS TYPICALLY RECEIVE?

• Among Americans aged 60 and older, in 2006 the average pension benefit was $15,784 per year, and the median benefit was $11,467 per year.   

HOW EFFICIENT ARE PENSIONS?

• The cost to deliver the same retirement income to a group of employees is 46% lower in a typical DB plan than in a defined contribution individual account plan. 

WHAT ARE THE PUBLIC ASSISTANCE SAVINGS ATTRIBUTABLE TO PENSIONS?

• Some $7.3 billion in public assistance expenditures was avoided in 2006 due to Americans’ receipt of pension income. 
  
• In the absence of DB pensions, spending on public assistance for the elderly would be about 40% higher.