Table 6. Standard errors for defined benefit frozen retirement plans:1
Selected attributes, private industry workers, March 2016
|
| Characteristics
|
Time since plan closed to new workers or
stopped accruing benefits2
|
| 1 year
|
2 to 5 years
|
Greater than
5 years
|
All workers
|
– |
– |
2.5 |
Worker characteristics
|
|
|
|
Management, professional, and related
|
– |
– |
3.7 |
Management, business, and financial
|
– |
– |
2.9 |
Professional and related
|
– |
– |
5.1 |
Service
|
– |
– |
11.3 |
Protective service
|
– |
– |
1.5 |
Sales and office
|
– |
– |
2.4 |
Sales and related
|
– |
– |
3.1 |
Office and administrative support
|
– |
– |
3.0 |
Natural resources, construction, and maintenance
|
– |
6.8 |
6.8 |
Construction, extraction, farming, fishing, and
forestry
|
– |
– |
18.2 |
Installation, maintenance, and repair
|
– |
7.3 |
7.3 |
Production, transportation, and material moving
|
– |
2.9 |
2.9 |
Production
|
– |
4.1 |
4.1 |
Transportation and material moving
|
– |
3.0 |
3.0 |
Full time
|
– |
– |
2.6 |
Part time
|
– |
– |
4.5 |
Union
|
– |
5.1 |
5.1 |
Nonunion
|
– |
– |
2.7 |
Average wage within the following categories:3
|
|
|
|
Lowest 25 percent
|
– |
– |
9.0 |
Lowest 10 percent
|
– |
– |
13.7 |
Second 25 percent
|
– |
– |
4.3 |
Third 25 percent
|
– |
– |
3.9 |
Highest 25 percent
|
– |
– |
2.9 |
Highest 10 percent
|
– |
– |
3.9 |
Establishment characteristics
|
|
|
|
Goods-producing industries
|
– |
4.5 |
4.5 |
Construction
|
– |
– |
19.5 |
Manufacturing
|
– |
4.2 |
4.2 |
Service-providing industries
|
– |
– |
3.3 |
Trade, transportation, and utilities
|
– |
2.1 |
2.1 |
Wholesale trade
|
– |
– |
9.3 |
Retail trade
|
– |
2.4 |
2.4 |
Transportation and warehousing
|
– |
– |
0.0 |
Utilities
|
– |
5.1 |
5.1 |
Information
|
– |
4.7 |
4.7 |
Financial activities
|
– |
3.5 |
3.5 |
Finance and insurance
|
– |
3.5 |
3.5 |
Credit intermediation and related activities
|
– |
4.4 |
4.4 |
Insurance carriers and related activities
|
– |
– |
4.1 |
Professional and business services
|
– |
– |
1.1 |
Professional and technical services
|
– |
– |
4.6 |
Administrative and waste services
|
– |
– |
1.4 |
Education and health services
|
– |
– |
10.7 |
Junior colleges, colleges, and universities
|
– |
9.8 |
9.8 |
Health care and social assistance
|
– |
– |
12.1 |
1 to 99 workers
|
– |
– |
4.5 |
1 to 49 workers
|
– |
– |
5.7 |
50 to 99 workers
|
– |
5.6 |
5.6 |
100 workers or more
|
– |
– |
2.7 |
100 to 499 workers
|
– |
– |
4.8 |
500 workers or more
|
– |
– |
3.8 |
Geographic areas
|
|
|
|
Northeast
|
– |
– |
2.4 |
New England
|
– |
– |
7.4 |
Middle Atlantic
|
– |
– |
2.2 |
South
|
– |
3.2 |
3.2 |
South Atlantic
|
– |
3.9 |
3.9 |
East South Central
|
– |
– |
13.8 |
West South Central
|
– |
– |
2.4 |
Midwest
|
– |
– |
6.5 |
East North Central
|
– |
– |
9.6 |
West North Central
|
– |
– |
3.9 |
West
|
– |
6.1 |
6.1 |
Mountain
|
– |
6.2 |
6.2 |
Pacific
|
– |
7.1 |
7.1 |
| 1Plans closed to new workers or plans that cease accruals for some or all plan participants.
|
2The length of time is calculated based on the year the plan was modified. For example, plans frozen
after January 2015 are included in the "1 year" column. Those frozen between 2011 and 2014 are included in
the "2 to 5 years" column and plans frozen before 2011 are included in the "Greater than 5 years" column.
|
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 wage data for March 2016.
|
Note: 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/glossary20152016.htm.
|
Source: Bureau of Labor Statistics, National Compensation Survey.
|
|
