This report highlights the inadequate and declining access to workplace retirement plans in California's private sector. Only 45% of private sector workers aged 25-64 in California have access to an employer-sponsored retirement plan, which is lower than the US average of 53%. Furthermore, only 37% of employed private sector workers in California participate in an employer-sponsored retirement plan, and there has been a downward trend in workplace retirement plan coverage since 1998-2000. Access is worst among low-wage workers, employees of small firms with less than 100 employees, and Latinos. Over six million working Californians have fallen into the private sector pension gap, with 6.3 million private sector workers in California working for an employer that does not sponsor a retirement plan. The median age in this group is 40 years, and four out of five work full time. The median annual earnings of workers who do not have access to a workplace retirement plan are just under $26,000, which is half that of workers who do have access.
