Table 13. Standard errors for traditional defined benefit plans: Selected normal
retirement age and service requirements, private industry workers, 2017
Characteristics |
Age less than 65 |
Age 65 |
Normal retirement age requirements (in years) |
Less than 10
years of
service |
10 years or
more of service |
Less than 10
years of
service |
10 years or
more of
service |
10th
percentile |
25th
percentile |
50th
percentile
(median) |
75th
percentile |
90th
percentile |
Worker characteristics
|
|
All workers |
2.2 |
3.4 |
3.9 |
- |
- |
0.0 |
0.0 |
0.0 |
0.0 |
Management, professional, and related |
- |
4.3 |
5.9 |
- |
1.6 |
1.9 |
0.0 |
0.0 |
0.0 |
Management, business, and financial |
- |
3.8 |
8.4 |
- |
1.7 |
2.8 |
0.0 |
0.0 |
0.0 |
Professional and related |
- |
6.3 |
7.6 |
- |
2.4 |
2.2 |
0.0 |
0.0 |
0.0 |
Service |
- |
- |
6.5 |
- |
- |
0.0 |
0.0 |
0.0 |
0.0 |
Sales and office |
- |
6.8 |
6.7 |
- |
3.5 |
3.3 |
0.0 |
0.0 |
0.0 |
Sales and related |
- |
- |
- |
- |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Office and administrative support |
- |
8.1 |
7.7 |
- |
0.0 |
6.9 |
0.5 |
0.0 |
0.0 |
Natural resources, construction, and maintenance |
4.7 |
6.1 |
4.5 |
- |
0.0 |
0.5 |
0.0 |
2.3 |
0.0 |
Construction, extraction, farming, fishing, and
forestry |
- |
9.2 |
5.1 |
- |
0.0 |
0.8 |
0.3 |
1.7 |
0.0 |
Installation, maintenance, and repair |
- |
5.8 |
5.8 |
- |
0.0 |
2.3 |
0.0 |
0.0 |
0.0 |
Production, transportation, and material moving |
- |
5.7 |
6.2 |
- |
0.0 |
2.2 |
0.0 |
0.0 |
0.0 |
Production |
- |
8.9 |
10.1 |
- |
2.0 |
0.0 |
0.9 |
0.0 |
0.0 |
Transportation and material moving |
- |
6.7 |
6.7 |
- |
2.0 |
1.6 |
0.0 |
0.0 |
0.0 |
Full time |
2.4 |
3.6 |
4.0 |
- |
- |
0.6 |
3.0 |
0.0 |
0.0 |
Part time |
- |
- |
6.4 |
- |
4.4 |
0.0 |
0.0 |
0.0 |
0.0 |
Union |
3.2 |
5.4 |
6.7 |
- |
1.0 |
2.5 |
2.3 |
0.0 |
0.0 |
Nonunion |
- |
4.7 |
6.0 |
- |
3.6 |
0.0 |
0.0 |
0.0 |
0.0 |
Average wage within the following categories: |
|
Lowest 25 percent |
- |
- |
10.4 |
- |
4.4 |
0.0 |
0.0 |
0.0 |
0.0 |
Second 25 percent |
- |
6.0 |
7.1 |
- |
5.5 |
3.4 |
0.0 |
0.0 |
0.0 |
Third 25 percent |
- |
6.5 |
6.7 |
- |
- |
1.0 |
2.7 |
0.0 |
0.0 |
Highest 25 percent |
3.5 |
4.9 |
4.6 |
- |
- |
1.8 |
1.4 |
0.0 |
0.0 |
Highest 10 percent |
- |
7.9 |
8.7 |
- |
0.0 |
2.2 |
1.8 |
0.0 |
0.0 |
Establishment characteristics
|
|
Goods-producing industries |
3.5 |
6.7 |
6.4 |
- |
3.4 |
0.7 |
1.4 |
0.0 |
0.0 |
Construction |
8.7 |
9.3 |
- |
- |
0.0 |
0.5 |
0.5 |
0.2 |
0.8 |
Manufacturing |
- |
7.4 |
8.4 |
- |
2.1 |
0.0 |
1.6 |
0.0 |
0.0 |
Service-providing industries |
- |
3.7 |
4.6 |
- |
- |
0.0 |
0.0 |
0.0 |
0.0 |
Trade, transportation, and utilities |
- |
5.5 |
7.5 |
- |
3.9 |
1.8 |
2.6 |
0.0 |
0.0 |
Transportation and warehousing |
- |
7.3 |
- |
- |
4.3 |
0.0 |
1.8 |
1.8 |
0.0 |
Utilities |
- |
10.3 |
10.8 |
- |
0.0 |
0.0 |
6.6 |
0.0 |
0.0 |
Financial activities |
- |
5.6 |
4.2 |
- |
0.0 |
0.0 |
2.8 |
0.0 |
0.0 |
Finance and insurance |
- |
- |
3.9 |
- |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Credit intermediation and related activities |
- |
- |
9.8 |
- |
2.2 |
1.1 |
0.0 |
0.0 |
0.0 |
Insurance carriers and related activities |
- |
- |
6.3 |
- |
1.4 |
0.0 |
3.9 |
0.0 |
0.0 |
Professional and business services |
- |
- |
15.2 |
- |
9.5 |
4.4 |
1.9 |
0.0 |
0.0 |
Education and health services |
- |
- |
8.5 |
- |
2.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Educational services |
- |
12.9 |
- |
- |
- |
1.4 |
0.0 |
0.0 |
0.0 |
Junior colleges, colleges, and universities |
- |
9.7 |
9.6 |
- |
0.0 |
2.6 |
0.0 |
0.0 |
0.0 |
Health care and social assistance |
- |
- |
0.0 |
- |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
1 to 99 workers |
- |
4.3 |
5.8 |
- |
- |
0.0 |
0.0 |
0.0 |
0.0 |
1 to 49 workers |
- |
6.1 |
7.3 |
- |
3.2 |
0.0 |
1.5 |
0.0 |
0.0 |
50 to 99 workers |
- |
- |
12.8 |
- |
3.6 |
3.8 |
0.0 |
0.0 |
0.0 |
100 workers or more |
2.6 |
4.1 |
4.3 |
- |
5.9 |
0.8 |
1.0 |
0.0 |
0.0 |
100 to 499 workers |
- |
6.4 |
7.3 |
- |
0.0 |
0.7 |
3.8 |
0.0 |
0.0 |
500 workers or more |
- |
4.8 |
4.8 |
- |
0.0 |
0.0 |
0.3 |
0.0 |
0.0 |
Geographic areas
|
|
Northeast |
- |
3.8 |
5.7 |
- |
1.0 |
0.0 |
0.0 |
0.0 |
0.0 |
New England |
- |
5.7 |
7.2 |
- |
4.2 |
3.0 |
0.0 |
0.0 |
0.0 |
Middle Atlantic |
- |
4.3 |
6.5 |
- |
2.1 |
0.0 |
0.0 |
0.0 |
0.0 |
South |
- |
7.1 |
6.5 |
- |
6.9 |
2.4 |
4.3 |
0.0 |
0.0 |
South Atlantic |
- |
8.9 |
7.7 |
- |
0.0 |
0.7 |
0.0 |
0.0 |
0.0 |
East South Central |
- |
17.2 |
- |
- |
0.0 |
0.0 |
2.1 |
3.0 |
0.0 |
West South Central |
- |
13.1 |
- |
- |
0.0 |
7.1 |
2.5 |
0.8 |
0.0 |
Midwest |
3.4 |
6.1 |
7.5 |
- |
3.5 |
1.5 |
3.6 |
0.0 |
0.0 |
East North Central |
3.0 |
8.1 |
9.2 |
- |
4.1 |
0.4 |
3.3 |
0.0 |
0.0 |
West North Central |
- |
3.9 |
10.9 |
- |
0.0 |
2.4 |
3.9 |
0.0 |
0.0 |
West |
- |
8.6 |
11.1 |
- |
5.0 |
2.7 |
1.7 |
0.0 |
0.0 |
Mountain |
- |
- |
- |
- |
3.3 |
0.0 |
3.9 |
0.0 |
0.0 |
Pacific |
- |
8.8 |
15.1 |
- |
7.4 |
2.0 |
1.9 |
0.0 |
0.0 |
Last Modified Date: May 15, 2018
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