Defined benefit frozen retirement plans: Plan alternatives

Table 7. Defined benefit frozen retirement plans:1 Plan alternatives, private industry workers, 
National Compensation Survey, March 2013

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

Characteristics

No
alternative to
frozen plans

Alternatives
to frozen
plans

Alternatives to frozen plans2

New defined
benefit plan

Enhanced
existing
defined
contribution
plan

New defined
contribution
plan

Other

All workers

11

89

25

33

33

–

Worker characteristics

            

Management, professional, and related

8

92

24

42

29

–

    Management, business, and financial

8

92

23

46

24

–

    Professional and related

8

92

24

39

32

–

Service

13

87

18

28

48

–

Sales and office

18

82

19

39

25

–

    Sales and related

27

73

6

42

27

–

    Office and administrative support

16

84

24

38

25

–

Natural resources, construction, and maintenance

7

93

49

8

32

–

Production, transportation, and material moving

11

89

30

16

49

–

    Production

6

94

30

–

53

–

Full time

11

89

26

34

32

–

Part time

21

79

22

22

40

–

Union

9

91

49

–

38

–

Nonunion

12

88

19

39

31

1

Average wage within the following categories:3

            

    Lowest 25 percent

34

66

4

–

48

–

        Lowest 10 percent

41

59

–

–

45

–

    Second 25 percent

19

81

14

30

39

–

    Third 25 percent

11

89

25

34

36

–

    Highest 25 percent

6

94

32

36

27

–

        Highest 10 percent

7

93

25

46

24

–

Establishment characteristics

            

Goods-producing industries

6

94

29

28

42

–

    Manufacturing

6

94

27

29

42

–

Service-providing industries

13

87

24

35

29

–

    Trade, transportation, and utilities

26

74

22

18

38

–

        Retail trade

47

53

5

15

37

–

    Financial activities

9

91

21

60

10

–

        Finance and insurance

9

91

19

62

9

–

            Insurance carriers and related activities

5

95

27

56

–

–

        Educational services

24

76

–

19

33

–

            Junior colleges, colleges, and universities

30

70

–

24

42

–

1 to 99 workers

6

94

24

40

30

–

    1 to 49 workers

7

93

20

48

24

–

100 workers or more

13

87

26

31

33

–

    100 to 499 workers

18

82

25

29

31

–

    500 workers or more

9

91

26

33

35

–

Geographic areas

            

Middle Atlantic

16

84

22

30

33

–

East North Central

9

91

31

25

41

–

West North Central

18

82

23

38

–

–

South Atlantic

14

86

18

39

28

–

East South Central

17

83

19

43

27

–

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

3Surveyed occupations are classified into wage categories based on
the average wage for the occupation, which may include workers with
earnings both above and below the threshold.  The categories were
formed using percentile estimates generated using data from the National
Compensation Survey publication, "Employer Costs for Employee
Compensation - March&nbs p;2013."

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/glossary20122013.htm.