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Employee Benefits Survey
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Table 10. Standard errors for defined benefit plans: Primary formula, private industry workers, 2017
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

3.7 3.2 3.0 - - 3.7 3.7 - -

Management, professional, and related

5.3 4.6 - - - 5.3 5.3 - -

Management, business, and financial

5.9 5.8 - - - 5.9 5.9 - -

Professional and related

6.5 5.6 - - - 6.5 6.5 - -

Sales and office

4.3 5.6 - - - 4.3 4.1 - -

Sales and related

9.2 4.0 - - - 9.2 9.2 - -

Office and administrative support

4.4 6.4 - - - 4.4 4.3 - -

Natural resources, construction, and maintenance

3.6 4.7 - - 4.6 3.6 3.4 - -

Construction, extraction, farming, fishing, and forestry

- - - - 7.9 - - - -

Installation, maintenance, and repair

6.0 7.2 6.9 - - 6.0 5.4 - -

Production, transportation, and material moving

3.2 6.5 6.6 - - 3.2 2.3 - -

Production

- - 7.6 - - - - - -

Transportation and material moving

3.0 9.0 7.9 - - 3.0 - - -

Full time

3.6 3.5 3.2 - - 3.6 3.6 - -

Part time

6.8 3.5 6.3 - - 6.8 6.8 - -

Union

2.5 4.2 4.8 - - 2.5 2.4 - -

Nonunion

4.8 4.2 - - - 4.8 4.7 - -

Average wage within the following categories(2):

Lowest 25 percent

7.2 - - - - 7.2 7.2 - -

Second 25 percent

4.4 5.1 7.6 - - 4.4 4.4 - -

Third 25 percent

6.1 4.4 4.9 - - 6.1 6.0 - -

Highest 25 percent

4.1 3.8 3.0 - - 4.1 4.1 - -

Highest 10 percent

6.4 6.3 - - - 6.4 6.3 - -

Establishment characteristics

Goods-producing industries

3.6 5.0 5.6 - - 3.6 2.6 - -

Construction

- - - - 9.5 - - - -

Manufacturing

- 6.2 7.8 - - - - - -

Service-providing industries

4.4 3.9 3.1 - - 4.4 4.4 - -

Trade, transportation, and utilities

3.1 7.2 4.8 - - 3.1 2.9 - -

Wholesale trade

- 12.5 - - - - - - -

Transportation and warehousing

- 12.4 - - - - - - -

Utilities

- 9.7 - - - - 6.7 - -

Information

9.5 - - - - 9.5 9.5 - -

Financial activities

3.5 3.4 - - - 3.5 3.8 - -

Finance and insurance

3.6 3.6 - - - 3.6 4.0 - -

Credit intermediation and related activities

5.9 5.8 - - - 5.9 5.9 - -

Insurance carriers and related activities

6.8 7.6 - - - 6.8 7.6 - -

Professional and business services

11.7 - - - - 11.7 11.7 - -

Education and health services

10.3 7.2 - - - 10.3 10.5 - -

Educational services

- 13.1 - - - - - - -

Junior colleges, colleges, and universities

- 6.9 - 6.8 - - - - -

Health care and social assistance

- - - - - - 10.2 - -

1 to 99 workers

9.5 5.5 - - - 9.5 9.5 - -

1 to 49 workers

- 8.1 - - - - - - -

50 to 99 workers

5.9 - 7.9 - - 5.9 5.9 - -

100 workers or more

3.4 4.0 3.5 - - 3.4 3.4 - -

100 to 499 workers

4.7 5.6 4.3 - - 4.7 4.6 - -

500 workers or more

4.1 5.0 4.8 - - 4.1 4.0 - -

Geographic areas

Northeast

8.3 7.1 - - - 8.3 8.3 - -

Middle Atlantic

6.4 8.2 - - - 6.4 6.3 - -

South

5.5 5.9 4.7 - - 5.5 5.4 - -

South Atlantic

4.2 5.8 5.5 - - 4.2 3.9 - -

West South Central

- 10.8 - - - - - - -

Midwest

7.1 4.1 6.8 - - 7.1 6.9 - -

East North Central

9.1 3.5 6.7 - - 9.1 9.0 - -

West North Central

8.1 - - - - 8.1 8.1 - -

West

5.6 6.2 - - - 5.6 5.4 - -

Pacific

6.2 5.2 - - - 6.2 6.3 - -

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: 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