Defined benefit frozen retirement plans: Plan alternatives

Table 7. Defined benefit frozen retirement plans:1 Plan alternatives, private industry workers, March
2018
(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
10
90
10
21
36
31
Worker characteristics
           
Management, professional, and related
8
92
10
19
45
31
    Management, business, and financial
7
93
6
19
49
31
    Professional and related
9
91
12
19
43
31
Sales and office
15
85
6
17
37
31
    Sales and related
25
75
3
45
23
    Office and administrative support
12
88
7
20
34
34
Production, transportation, and material moving
9
91
29
22
34
Full time
8
92
11
22
38
31
Part time
33
67
7
16
35
Union
7
93
16
36
20
28
Nonunion
11
89
9
17
41
32
Average wage within the following categories:3
           
    Lowest 25 percent
36
64
5
28
    Second 25 percent
11
89
13
19
31
32
    Third 25 percent
12
88
10
25
26
35
    Highest 25 percent
6
94
10
22
44
30
        Highest 10 percent
7
93
6
21
52
29
Establishment characteristics
           
Goods-producing industries
4
96
30
41
32
    Construction
100
    Manufacturing
5
95
30
42
33
Service-providing industries
12
88
11
18
34
31
    Trade, transportation, and utilities
23
77
17
18
33
        Retail trade
50
50
11
21
29
    Financial activities
4
96
4
14
55
24
        Finance and insurance
4
96
4
14
55
25
            Credit intermediation and related activities
5
95
7
11
47
33
            Insurance carriers and related activities
5
95
25
56
13
    Professional and business services:
         Professional and technical services
100
94
1 to 99 workers
9
91
7
24
27
36
    1 to 49 workers
6
94
8
21
25
40
100 workers or more
11
89
11
21
38
30
    100 to 499 workers
18
82
13
24
30
28
    500 workers or more
7
93
10
19
43
31
Geographic areas
           
Northeast
13
87
11
36
33
South
9
91
8
29
34
30
    South Atlantic
12
88
5
25
41
30
Midwest
9
91
17
23
26
33
    East North Central
9
91
23
24
34
West
10
90
6
19
51
29
    Pacific
12
88
23
48
32
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 2018.

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/national-compensation-survey-glossary-of-employee-benefit-terms.htm.

Source: U.S. Bureau of Labor Statistics, National Compensation Survey.