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Employee Benefits Survey
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Retirement

Defined benefit plans

Defined benefit plans: Availability and eligibility requirements for open plans
Table includes percent of workers participating in plans open to new employees, with minimum age and/or service requirements, and plans not open to new employees.

 

Defined benefit plans: Plan sponsor
Table includes percent of workers participating in plans sponsored by either a state or local government.

 

Defined benefit plans: Primary plan formulas
Table includes percent of workers participating in plans with traditional formulas, including percent of terminal earnings, dollar amount, percent of career earnings, and percent of employer contribution; and nontraditional formulas, including cash balance, pension equity, and other formulas.

 

Defined benefit plans: Vesting requirements
Table includes percent of workers participating in plans with immediate full vesting, graded vesting, and cliff vesting; and the mean and median years required for cliff vesting.

 

Defined benefit plans: Integration with Social Security
Table includes percent of workers in plans integrating the benefit with Social Security by adjusting the percentage of the benefit to take into account the employer's contribution to the Social Security tax (the FICA tax). Types of integration formulas, including Social Security breakpoint, offset by Social Security, and cash balance are also shown.

 

Traditional defined benefit plans

Traditional defined benefit plans: Maximum credited service provisions
Table includes percent of workers participating in plans that impose a maximum on the number of years credited under the plan formula and the maximum credited service years by selected percentiles.

 

Traditional defined benefit plans: Availability of lump-sum benefits at retirement
Table includes percent of workers participating in plans with a lump-sum feature and the type of lump sum, either full or partial with reduced annuity, available at retirement.

 

Traditional defined benefit plans: Normal retirement age and service requirements
Table includes percent of workers participating in plans that impose age and/or service requirements for normal retirement (receipt of benefits unreduced due to insufficient age or service) and the mean and median age of combined age plus service requirements.

 

Traditional defined benefit plans: Selected normal retirement age and service requirements
Table includes percent of workers participating in plans that allow normal retirement (receipt of benefits unreduced due to insufficient age or service) before and after the age of 55, 62, and 65; and with under and over 10 and 30 years of service requirements.

 

Traditional defined benefit plans: Normal retirement age requirements in years
Table includes the age for normal retirement (receipt of benefits unreduced due to insufficient age or service) by selected percentiles for workers participating in plans that impose an age requirement.

 

Traditional defined benefit plans: Normal retirement service requirements in years
Table includes the service length for normal retirement (receipt of benefits unreduced due to insufficient age or service) by selected percentiles for workers participating in plans that impose a service requirement.

 

Traditional defined benefit plans: Terminal earnings formulas
Table includes percent of workers participating in plans with terminal earnings formulas determined by both a flat percent and a varied percent per year of service, and the flat percent per year of service by selected percentiles.

 

Traditional defined benefit plans: Definition of terminal earnings
Table includes percent of workers participating in plans with terminal earnings formulas determined by one year of service, highest and highest consecutive three and five years of service, and other time periods.

 

Traditional defined benefit plans: Availability of early retirement benefits
Table includes percent of workers participating in plans that allow early retirement (receipt of benefits reduced to account for a longer period over which they are paid).

 

Traditional defined benefit plans: Early retirement service requirements in years
Table includes the service length for early retirement (receipt of benefits reduced to account for a longer period over which they are paid) by selected percentiles for workers participating in plans that allow early retirement and impose a service requirement.

 

Traditional defined benefit plans: Selected early retirement age and service requirements
Table includes percent of workers participating in plans that allow early retirement (receipt of benefits reduced to account for a longer period over which they are paid) without a minimum age requirement, with a minimum age requirement of less than or equal to 55 and with a service requirement (less than 10 years or 10 years or more).

 

Traditional defined benefit plans: Early retirement age requirements in years
Table includes the age for early retirement (receipt of benefits reduced to account for a longer period over which they are paid) for workers participating in plans that allow early retirement and impose an age requirement.

 

Traditional defined benefit plans: Early retirement reductions
Table includes percent of workers participating in plans that allow early retirement (with benefits reduced to account for a longer period over which they are paid), by type of reduction: flat, variable, actuarial, or other type.

 

Traditional defined benefit plans: Availability of disability retirement benefits
Table includes percent of workers participating in plans that provide disability retirement and whether the disability retirement begins immediately or is deferred.

 

Traditional defined benefit plans: Postretirement survivor benefits
Table includes percent of workers participating in plans with joint-and-survivor annuity feature, by selected joint-and-survivor annuity percentages available.

 

Traditional defined benefit plans: Availability of preretirement survivor benefits
Table includes percent of workers participating in plans that offer preretirement survivor benefits.

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Defined contribution plans

Defined contribution plans: Type of plan
Table includes percent of workers participating in money purchase pension and savings and thrift plans.

 

Defined contribution plans: Plan sponsor
Table includes percent of workers participating in plans sponsored by either a state or local government.

 

Money purchase pension plans

Money purchase pension plans: Summary of selected features
Table includes percent of workers participating in plans that allow employee contributions, as well as whether post-tax employee contributions are allowed. The table also includes the percent of workers participating in plans with availability of an annuity.

 

Money purchase pension plans: Employer contributions
Table includes percent of workers participating in plans with employer contributions by both a fixed percent and a varied percent of earnings, as well as by a flat amount. The table also includes the fixed percent of earnings amount by selected percentiles.

 

Money purchase pension plans: Maximum employee contributions subject to Internal Revenue Code limit
Table includes percent of workers participating in plans with maximum employee contribution based on a percent of earnings (up to the Internal Revenue Code limit) and the maximum percent of earnings amount by selected percentiles; a contribution of any amount up to the Internal Revenue Code limit; and plans with other maximum criteria.

 

Savings and thrift plans

Savings and thrift plans: Summary of provisions
Table includes percent of workers participating in plans with selected provisions: pre- and post-tax (Roth) contributions, automatic enrollment, and employee choice of investments for employee and employer funds.

 

Savings and thrift plans: Maximum employee contributions subject to Internal Revenue Code limit
Table includes percent of workers participating in plans with maximum employee contribution based on a percent of earnings (up to the Internal Revenue Code limit) and the maximum percent of earnings amount by selected percentiles; a contribution of any amount up to the Internal Revenue Code limit; and plans with other maximum criteria.

 

Savings and thrift plans: Method of employer matching contributions
Table includes percent of workers participating in plans with a specified matching percent, percent that varies by employee contribution, and other matching methods specified by the employer. The table also includes the specified matching percent amount by selected percentiles.

 

Savings and thrift plans: Maximum employee contribution percentage matched by employer
Table includes the maximum employee contribution percent amount matched by employer by selected percentiles.

 

Savings and thrift plans: Automatic enrollment
Table includes percent of workers participating in plans with automatic enrollment; with automatic enrollment using percent of earnings or other methods for default contribution; and with no automatic enrollment. The table also includes the default contribution as a percent of earnings amount by selected percentiles.

 

Savings and thrift plans: Investment choices for employee funds
Table includes percent of workers participating in plans that allow employees to choose investment vehicles (common stock, diversified investments, and lifecycle funds) for employee funds.

 

Savings and thrift plans: Investment choices for employer funds
Table includes percent of workers participating in plans that allow employees to choose investment vehicles (common stock, diversified investments, and lifecycle funds) for employer funds.

 

Savings and thrift plans: Selected methods of distribution of retirement benefits
Table includes percent of workers participating in plans that offer lump sums, annuities, and installments as methods of distribution of retirement benefits.

 

Savings and thrift plans: Eligibility requirements
Table includes percent of workers participating in plans with minimum age or service requirement, the median age requirement (in years), and the median service requirement (in months); and plans with no minimum age or service requirement.

 

Savings and thrift plans: Maximum potential employer contribution percentage
Table includes the maximum potential employer contribution percent amount (determined by multiplying the maximum employee contribution subject to matching by the employer matching percent, for those plans that specify both values) by selected percentiles.

 

Savings and thrift plans: Default enrollment amount as a percent of the employee maximum amount matched by employer
Table includes percent of workers participating in plans with automatic enrollment. The table also includes the default enrollment amount as a percent of the employee maximum amount matched by employer by selected percentiles.

 

Last Modified Date: April 11, 2017