Nonprofit Workers Save Less for Retirement Than Corporate Workers
January 5, 2007
Workers in education, government, and health care save less for retirement than do employees of businesses, reports The Wall Street Journal.
A survey conducted by Fidelity Investments found that employees of tax-exempt groups on average have saved $48,000 through a defined-contribution plan. Employees of businesses have saved an average of $62,000.
Even when factoring in pension plans, tax-exempt workers still have saved less: $47,705 on average as opposed to $54,898 for corporate workers without pension plans.
(A paid subscription is required to view this article.)
