The pension coverage and retirement prospects of baby boomers are a growing concern as this population ages and more of its members enter the "soon-to-retire" stage. Time may be running out for boomers who still lack pensions to participate in a plan that will provide them with the level of benefits that they will need in retirement.
In this AARP Public Policy Institute Issue Paper, Satyendra K. Verma and Jules H. Lichtenstein look at the retirement plan coverage of workers in three different birth cohorts - boomers, pre-boomers, and retired workers. In addition to assessing coverage on different jobs, this paper examines the type of plan in which a worker participates, and focuses on specific vulnerable populations - women, minorities, and low-income workers. The analysis is based on 1998 data from the pension and retirement plan module of the Survey of Income and Program Participation (SIPP) released by the Census Bureau in February 2002. (21 pages)