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Employee Benefits Survey
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Table 12. Standard errors for traditional defined benefit plans: Terminal earnings formulas, private industry workers, 2017
Characteristics Flat percent per year of service Flat percent per year of service Percent per year varies Percent per year varies by
10th percentile 25th percentile 50th percentile (median) 75th percentile 90th percentile Service Earnings Earnings and service Other

Worker characteristics

All workers

5.7 0.00 0.14 0.06 0.09 0.28 5.7 - 3.8 - 3.9

Management, professional, and related

6.9 0.03 0.19 0.13 0.05 - 6.9 - 8.2 - -

Management, business, and financial

6.7 0.05 0.29 0.10 0.09 0.00 6.7 - - - -

Professional and related

10.9 0.03 0.18 0.18 0.45 - 10.9 - - - -

Sales and office

9.7 0.08 0.17 0.17 0.11 0.00 9.7 - - 4.2 -

Office and administrative support

9.3 0.09 0.16 0.17 0.10 0.00 9.3 - - - -

Natural resources, construction, and maintenance

9.2 0.26 0.23 - 0.03 0.72 9.2 4.5 - - -

Installation, maintenance, and repair

10.3 0.28 0.21 0.19 0.24 0.62 10.3 5.0 - - -

Production, transportation, and material moving

7.9 - 0.16 0.22 0.00 0.02 7.9 - 3.3 - -

Full time

5.9 0.03 0.14 0.05 0.09 0.25 5.9 - 3.8 - 3.6

Part time

10.9 0.28 0.16 0.21 0.23 0.05 10.9 - - - -

Union

9.6 0.26 0.23 0.00 0.46 0.20 9.6 - - - -

Nonunion

6.9 0.00 0.18 0.09 0.12 0.34 6.9 - 5.2 - 3.8

Average wage within the following categories(1):

Second 25 percent

9.3 - 0.04 - - 0.13 9.3 - - - -

Third 25 percent

8.3 0.00 0.24 0.16 0.46 0.00 8.3 - - - -

Highest 25 percent

6.6 0.05 0.14 0.05 0.05 0.45 6.6 - 5.7 - -

Highest 10 percent

10.2 0.07 0.23 0.00 0.08 0.00 10.2 - - - -

Establishment characteristics

Goods-producing industries

11.9 - - 0.00 0.00 0.00 11.9 - - - -

Service-providing industries

6.1 0.05 0.11 0.19 0.14 0.22 6.1 - 4.7 1.7 -

Trade, transportation, and utilities

6.9 0.00 0.20 0.20 0.00 0.06 6.9 - - - -

Financial activities

6.2 0.00 0.08 0.18 0.18 0.00 6.2 - 6.3 5.5 -

Finance and insurance

6.2 0.00 0.08 0.18 0.18 0.00 6.2 - 6.3 5.5 -

Education and health services

12.3 0.00 0.16 0.05 - 0.00 12.3 - - - -

1 to 99 workers

12.7 0.00 0.00 - 0.10 0.38 12.7 - - - -

1 to 49 workers

13.0 0.00 0.04 - 0.05 0.46 13.0 - - - -

100 workers or more

6.8 0.19 0.19 0.07 0.12 0.28 6.8 - 4.1 - 3.0

100 to 499 workers

12.1 - 0.14 0.05 0.19 - 12.1 - - - -

500 workers or more

7.3 0.24 0.14 0.08 0.09 0.41 7.3 - 5.4 - 4.1

Geographic areas

Northeast

7.3 0.00 0.06 0.05 0.26 0.05 7.3 - - - -

Middle Atlantic

7.7 0.00 0.00 0.04 0.26 0.07 7.7 4.0 - - -

South

8.2 0.30 0.06 0.07 0.08 0.02 8.2 - 4.6 - -

South Atlantic

10.5 - 0.36 0.14 0.00 0.17 10.5 - 8.0 - -

Midwest

8.8 - 0.04 - 0.13 - 8.8 - 9.7 - -

East North Central

10.4 - - - 0.08 - 10.4 - - - -

West North Central

13.7 0.00 0.00 - 0.05 0.00 13.7 - - - -

Footnotes:
(1) 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