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 |
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: |
|
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 |
- |
- |
Last Modified Date: May 15, 2018
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