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Employee Benefits Survey
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Table 10. Defined benefit plans: Primary formula, private industry workers, 2017
(All workers participating in defined benefit plans = 100 percent)
Characteristics Traditional Traditional plan formula Non- traditional Nontraditional plan formula
Percent of terminal earnings Dollar times years(1) Percent of career earnings Percent of employer contribution Cash balance Pension equity Other

Worker characteristics

All workers

63 32 21 - - 37 35 - -

Management, professional, and related

46 36 - - - 54 52 - -

Management, business, and financial

43 36 - - - 57 56 - -

Professional and related

48 36 - - - 52 49 - -

Sales and office

53 34 - - - 47 45 - -

Sales and related

48 16 - - - 52 52 - -

Office and administrative support

55 40 - - - 45 43 - -

Natural resources, construction, and maintenance

85 20 - - 19 15 12 - -

Construction, extraction, farming, fishing, and forestry

- - - - 29 - - - -

Installation, maintenance, and repair

76 37 27 - - 24 21 - -

Production, transportation, and material moving

88 32 41 - - 12 9 - -

Production

- - 62 - - - - - -

Transportation and material moving

90 43 27 - - 10 - - -

Full time

63 34 20 - - 37 34 - -

Part time

62 18 25 - - 38 38 - -

Union

89 28 44 - - 11 10 - -

Nonunion

46 35 - - - 54 51 - -

Average wage within the following categories(2):

Lowest 25 percent

61 - - - - 39 39 - -

Second 25 percent

69 24 33 - - 31 30 - -

Third 25 percent

61 30 25 - - 39 36 - -

Highest 25 percent

63 37 15 - - 37 35 - -

Highest 10 percent

55 37 - - - 45 43 - -

Establishment characteristics

Goods-producing industries

86 26 46 - - 14 9 - -

Construction

- - - - 37 - - - -

Manufacturing

- 32 44 - - - - - -

Service-providing industries

56 34 13 - - 44 43 - -

Trade, transportation, and utilities

79 47 19 - - 21 21 - -

Wholesale trade

- 69 - - - - - - -

Transportation and warehousing

- 52 - - - - - - -

Utilities

- 64 - - - - 28 - -

Information

64 - - - - 36 36 - -

Financial activities

34 25 - - - 66 62 - -

Finance and insurance

30 28 - - - 70 66 - -

Credit intermediation and related activities

21 20 - - - 79 79 - -

Insurance carriers and related activities

38 35 - - - 62 52 - -

Professional and business services

58 - - - - 42 42 - -

Education and health services

35 24 - - - 65 64 - -

Educational services

- 61 - - - - - - -

Junior colleges, colleges, and universities

- 52 - 26 - - - - -

Health care and social assistance

- - - - - - 71 - -

1 to 99 workers

60 26 - - - 40 39 - -

1 to 49 workers

- 31 - - - - - - -

50 to 99 workers

64 - 31 - - 36 36 - -

100 workers or more

64 34 22 - - 36 33 - -

100 to 499 workers

65 30 24 - - 35 32 - -

500 workers or more

64 36 20 - - 36 35 - -

Geographic areas

Northeast

57 28 - - - 43 41 - -

Middle Atlantic

62 31 - - - 38 36 - -

South

67 38 23 - - 33 30 - -

South Atlantic

71 35 26 - - 29 27 - -

West South Central

- 58 - - - - - - -

Midwest

65 22 35 - - 35 33 - -

East North Central

64 18 37 - - 36 34 - -

West North Central

69 - - - - 31 31 - -

West

64 42 - - - 36 33 - -

Pacific

62 40 - - - 38 35 - -

Footnotes:
(1) Benefits are based on a dollar amount per month for each year of service recognized by the plan.
(2) Surveyed 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 2017."

Note: Because of rounding, sums of individual items may not equal totals. Dashes indicate that no data were reported or that data do 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/glossary20162017.htm.
Source: U.S. Bureau of Labor Statistics, National Compensation Survey.

 

Last Modified Date: May 15, 2018