Defined benefit frozen retirement plans: Plan alternatives

Table 7. Defined benefit frozen retirement plans:1 Plan alternatives, private industry workers, 
National Compensation Survey, March 2011

(All workers participating in frozen defined benefit plans = 100 percent)

Characteristics

No
alternative to
frozen plans

Alternatives
to frozen
plans
available

Alternatives for employees in frozen plans2

New defined
benefit plan

Enhanced
existing
defined
contribution
plan

New defined
contribution
plan

Other

All workers

12

88

15

33

41

1

Worker characteristics

            

Management, professional, and related

9

91

15

38

39

2

    Management, business, and financial

10

90

17

42

32

–

    Professional and related

9

91

14

35

44

–

Service

11

89

6

–

54

–

Sales and office

19

81

13

35

35

[3]

    Sales and related

10

90

3

47

40

–

    Office and administrative support

22

78

17

30

32

[3]

Production, transportation, and material moving

11

89

18

20

54

–

    Production

9

91

22

21

51

–

    Transportation and material moving

14

86

–

–

58

–

Full time

11

89

16

34

41

1

Part time

26

74

6

25

49

–

Union

9

91

33

9

52

–

Nonunion

13

87

12

38

39

1

Average wage within the following categories:4

            

    Lowest 25 percent

30

70

2

29

40

–

    Second 25 percent

15

85

11

28

48

–

    Third 25 percent

13

87

13

30

47

–

    Highest 25 percent

7

93

20

37

36

1

        Highest 10 percent

7

93

16

45

32

–

Establishment characteristics

            

Goods-producing industries

5

95

21

28

49

–

    Manufacturing

5

95

20

27

49

–

Service-providing industries

15

85

13

35

39

–

    Trade, transportation, and utilities

22

78

13

27

41

–

        Retail trade

32

68

–

27

42

–

        Utilities

27

73

45

–

–

–

    Financial activities:
       Finance and insurance:
         Insurance carriers and related activities

15

85

31

34

21

–

    Education and health services:
       Educational services

49

51

–

–

39

–

            Junior colleges, colleges, and universities

49

51

–

–

40

–

        Health care and social assistance

7

93

6

21

74

–

1 to 99 workers

6

94

14

49

31

–

100 workers or more

13

87

15

30

44

–

    100 to 499 workers

19

81

12

24

46

–

    500 workers or more

10

90

17

34

42

[3]

Geographic areas

            

Middle Atlantic

18

82

17

34

32

–

East North Central

11

89

21

17

54

[3]

South Atlantic

14

86

9

37

39

–

Pacific

6

94

–

43

31

–

1Plans closed to new workers or plans that cease accruals for some
or all plan participants.

4The categories are based on the average wage for each occupation
surveyed, which may include workers with earnings both above and below
the threshold. The average wages are based on the estimates published in
the "National Compensation Survey: Occupational Earnings in the United
States, 2010." See Technical Note for more details.

2The sum of the individual components may be greater than the total
because some employers offer more than one alternative.


NOTE: Because of rounding, sums of individual items may not equal totals.
Dash indicates no workers in this category or data did not meet publication
criteria. For definitions of major plans, key provisions, and related terms,
see the "Glossary of Employee Benefit Terms" at
www.bls.gov/ncs/ebs/glossary20102011.htm.

3Less than 0.5 percent.