According to the International Monetary Fund, Denmark has the world's highest minimum wage. As Denmark has no minimum wage legislation, the high wage floor has been attributed to the power of trade unions. For example, as the result of a collective bargaining agreement between the 3F trade union and the employers group Horesta, workers at McDonald's and other fast food chains make the equivalent of US$20 an hour, which is more than double what their counterparts earn in the United States, and have access to five weeks' paid vacation, parental leave and a pension plan. Union density in 2015 was 68%.