About 19% of private-sector hospital employees were not participating in employer-sponsored retirement plans as of March, according to data released Sept. 25 by the Bureau of Labor Statistics.
The data shows 94% of private-sector hospital workers had access to retirement benefits, while 81% participated. Among workers with access to a retirement plan, 86% participated.
Hospital employees had higher retirement plan participation than the private-sector workforce overall. Across private industry, 72% of workers had access to retirement benefits and 52% participated.
The findings are based on the BLS National Compensation Survey, which measures access to and participation in employer-provided benefits. The hospital figures include workers at nonprofit and for-profit hospitals, as well as state and local government hospitals where specified. Federal government workers are excluded.
Here are four more findings from the report:
1. Among state and local government hospital workers, 92% had access to retirement benefits, while 74% participated. The take-up rate among those with access was 80%.
2. Across all hospitals, including private-sector and state and local government facilities, 94% of workers had access to retirement plans and 80% participated.
3. Among private-sector hospital workers, 91% had access to employer-sponsored medical benefits, while 60% participated. The take-up rate was 66%.
4. Paid sick leave was available to 94% of private-sector hospital workers, while 91% had access to paid vacation and 93% had access to paid holidays.
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