Defined benefit frozen retirement plans: Selected attributes

Table 6. Defined benefit frozen retirement plans:1 Selected attributes,
private industry workers,  National Compensation Survey, March 2012

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

Characteristics

Time since plan closed to new workers or
stopped accruing benefits2

1 year

2 to 5 years

Greater than
5 years

All workers

2

56

42

Worker characteristics

      

Management, professional, and related

2

56

43

    Management, business, and financial

–

56

–

    Professional and related

2

55

42

Service

–

53

–

    Protective service

–

50

50

Sales and office

2

59

39

    Sales and related

–

50

–

    Office and administrative support

3

62

35

Natural resources, construction, and maintenance

–

50

–

    Construction, extraction, farming, fishing, and
     forestry

–

51

–

    Installation, maintenance, and repair

–

50

–

Production, transportation, and material moving

–

55

–

    Production

–

56

–

    Transportation and material moving

–

53

–

Full time

2

57

41

Part time

–

–

52

Union

–

62

–

Nonunion

2

55

43

Average wage within the following categories:3

      

    Lowest 25 percent

–

52

–

        Lowest 10 percent

–

50

50

    Second 25 percent

–

56

–

    Third 25 percent

2

56

41

    Highest 25 percent

1

56

42

        Highest 10 percent

1

54

44

Establishment characteristics

      

Goods-producing industries

–

52

–

    Construction

–

–

95

    Manufacturing

–

52

–

Service-providing industries

2

58

40

    Trade, transportation, and utilities

–

54

–

        Wholesale trade

–

65

–

        Retail trade

–

52

–

        Utilities

–

40

60

    Information

–

60

–

    Financial activities

–

70

30

        Finance and insurance

–

69

31

            Credit intermediation and related activities

–

74

26

            Insurance carriers and related activities

–

67

33

    Professional and business services

–

52

48

    Education and health services

–

52

–

        Educational services

–

81

19

            Junior colleges, colleges, and universities

–

83

–

        Healthcare and social assistance

–

50

–

1 to 99 workers

–

55

45

    1 to 49 workers

–

59

41

    50 to 99 workers

–

47

53

100 workers or more

2

56

41

    100 to 499 workers

–

58

–

    500 workers or more

2

55

42

Geographic areas

      

New England

–

60

–

Middle Atlantic

–

51

–

East North Central

–

–

51

West North Central

–

59

–

South Atlantic

–

55

45

East South Central

–

60

–

West South Central

–

53

47

Mountain

–

72

–

Pacific

–

70

–

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

3The 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 length of time is calculated based on the
year the plan was modified. For example, plans
frozen after January 2011 are included in the "1
year" column. Those frozen between 2007 and
2010 are included in the "2 to 5 year" column and
plans frozen before 2007 are included in the
"Greater than 5&nbs p;years" column.


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/glossary20112012.htm.