Summary
2007 Benefits in Private Industry
Employee Benefit Trends of Selected Benefits Provided
By Employers in Private Industry in the United States
PUBLISHED: July 2007
METHODOLOGY
Data contained in this inaugural survey report was principally extracted from the Bureau of Labor Statistics' National Compensation Survey (NCS) for years 2000 to 2006. Data for the 2006 survey was obtained from 10,370 private industry establishments representing more than 100 million workers. Approximately 80% of the 100 million workers surveyed work in full-time jobs.
Data represents input from organizations in all fifty (50) states and the District of Columbia. June 30, 2007 was used as the projected data date.
The years 2000 to 2006 were selected for inclusion in this survey report so that trends in benefit offerings could be readily identified within the current decade. Since NCS uses a matched sample of establishment types from year to year, comparisons can be considered relatively equal, although not necessarily a precise match of organizations. Trended data is shown for 2007. The values reported were calculated via a statistical projection of the above-mentioned sources utilizing linear regression where the leverage value did not exceed .68.
Averages provided are for years 2000 to 2006, or years in which data was available during that period. Averages do not include projections for 2007.
HEALTH CARE
Sharing the burden of escalating health care benefit costs with employees has become commonplace. The average full-time employee contribution for single medical coverage in private industry has risen 40% between 2000 and 2006. The average full-time employee contribution for family medical coverage has risen a staggering 63% during this same six-year period.
In the year 2000, 69% of full-time employees were required to contribute toward the cost of single medical coverage; but, in 2006, 75% of full-time employees were required to do so.
Union workers continue to have the lowest required employee contribution for medical insurance coverage. The projected 2007 employee contribution for a nonunion worker for single medical coverage is 31% more than that of a union worker. This difference is substantially greater for employee contributions for family coverage with a 58% higher contribution required by a nonunion worker versus a union worker in 2007.
PAID LEAVE
It is not surprising that paid leave remains the most common benefit provided in private industry. Eighty-eight percent (88%) of full-time employees had access to paid holidays and 90% were offered paid vacation in 2006. These percentages have remained consistent for the period of 2000 to 2006. Paid time off for part-time employees is decreasing, however. Only 37% of part-time employees had access to paid holidays in 2006 and 36% were offered paid vacation. In the year 2000, 39% of part-time employees were offered paid holidays and paid vacations. This trend may be a result of general benefit reductions implemented to offset rising health care costs.
RETIREMENT
The number of organizations in private industry offering defined benefit retirement plans has remained relatively flat in the period of 2000 to 2006. As more organizations offer defined contribution plans, participation levels are steadily increasing. In 2000, only 42% of employees participated in a defined contribution retirement plan; but, in 2006, 51% of full-time employees in private industry participated in these plans.
TABLE OF CONTENTS
The following general topics and benefits are included in the report. Actual report data includes further breakouts for full-time, part-time, union, non-union, white-collar, blue-collar, goods-producing, service, and service-providing employees as well as by organization size.
- Overview
- Health Care
- Medical
- Dental
- Vision
- Life Style Benefits
- Child Care
- Adoption Assistance
- Subsidized Commuting
- Life-Disability Benefits
- Life Insurance
- Short-Term Disability
- Long-Term Disability
- Travel Accident
- Long-Term Care
- Miscellaneous Benefits
- Education Assistance
- Employer-Provided Home Computer
- Flexible Work Place Benefits
- Pre-Tax Benefit Plans
- Non-Production Bonuses
- Paid Time Off
- Holidays
- Vacations
- Personal Leave
- Sick Leave
- Funeral Leave
- Jury Duty
- Military Leave
- Retirement Benefits
- Defined Benefit Plans
- Defined Contribution Plans
- Wellness Benefits
- Wellness Programs
- Employee Assistance Programs
- Employer-Provided Fitness Centers