Defined benefit frozen retirement plans: Plan alternatives

Table 7. Defined benefit frozen retirement plans:1 Plan alternatives, private industry workers, March
2016
(All workers participating in frozen defined benefit plans = 100 percent)
Characteristics No
alternative to
frozen plans
Alternatives
to frozen
plans
Alternatives to frozen plans2
Modified
existing
defined
benefit plan
New defined
benefit plan
Enhanced
existing
defined
contribution
plan
New defined
contribution
plan
All workers
12
88
8
23
32
33
Worker characteristics
           
Management, professional, and related
10
90
7
26
37
31
    Management, business, and financial
10
90
6
28
37
28
    Professional and related
10
90
8
24
37
33
Service
12
88
35
45
Sales and office
18
82
6
20
31
30
    Sales and related
25
75
33
38
    Office and administrative support
16
84
7
24
31
27
Natural resources, construction, and maintenance
7
93
35
34
18
Production, transportation, and material moving:
     Transportation and material moving
9
91
25
15
46
Full time
11
89
8
24
33
32
Part time
29
71
8
40
Union
3
97
11
37
27
27
Nonunion
14
86
7
20
33
35
Average wage within the following categories:3
           
    Lowest 25 percent
29
71
24
30
    Second 25 percent
15
85
10
14
27
38
    Third 25 percent
11
89
8
25
25
37
    Highest 25 percent
9
91
7
27
39
29
        Highest 10 percent
9
91
6
27
45
28
Establishment characteristics
           
Goods-producing industries
7
93
8
22
38
34
    Manufacturing
7
93
6
19
40
36
Service-providing industries
14
86
7
24
30
33
    Trade, transportation, and utilities
18
82
9
20
21
39
        Retail trade
37
63
10
20
39
    Financial activities
10
90
3
16
44
27
        Finance and insurance
11
89
4
16
43
27
            Credit intermediation and related activities
6
94
5
13
42
35
            Insurance carriers and related activities
14
86
2
29
44
    Professional and business services:
         Professional and technical services
100
80
81
    Education and health services
12
88
21
43
        Health care and social assistance
11
89
24
48
1 to 99 workers
12
88
11
19
23
35
    1 to 49 workers
6
94
20
26
40
100 workers or more
12
88
6
25
35
32
    100 to 499 workers
16
84
8
33
30
30
    500 workers or more
8
92
5
19
38
34
Geographic areas
           
Northeast
13
87
3
17
33
37
    Middle Atlantic
13
87
3
18
32
35
South
13
87
7
27
30
30
    South Atlantic
17
83
4
21
34
32
    West South Central
6
94
35
26
Midwest
11
89
13
23
24
37
    East North Central
12
88
14
21
22
37
1Plans closed to new workers or plans that cease accruals for some or all plan participants.
2The sum of the individual components may be greater than the total because some employers offer more than one alternative.
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: 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/glossary20152016.htm.

Source: Bureau of Labor Statistics, National Compensation Survey.