A new report by the Congressional Research Service noted that most small-business employees who are not covered by retirement plans at work also don’t have IRAs. Less than 44% of workers in businesses with fewer than 100 employees are covered by employer-sponsored plans. And in 1999, the latest year for which information is available, only about 17% of workers who weren’t covered by employer-sponsored plans had individual retirement plans. Moreover, not everyone who has an IRA contributes to it every year.
Many workers are "either wittingly or unwittingly putting all their retirement eggs in one basket, namely Social Security,” the report notes.
