Survey of Employee Benefits

Published April 17th, 2006

Our readers often like to know how their employee benefits compare to others. Read the following findings to see how your benefits stack up (in comparison to numbers released about the public sector).

In a report released by the U.S. Bureau of Labor and Statistics, the following information was made public:

  • 70% of workers in private industry have access to employer-sponsored medical care plans, and 53% participate in medical care plans.
  • 60% of workers have access to retirement benefits, with 50% participating in at least one type of retirement plan.

Data published by the National Compensation Survey, which provides comprehensive measures of occupational earnings, compensation cost trends, and details of benefit provisions in private employers, show that:

  • Most employees covered by medical care plans are in plans requiring employee contributions for both single and family coverage.
  • Employee contributions to medical care premiums average $273.03 per month for family coverage; for single coverage, employee contributions average $68.96 per month.
  • Employer premiums for medical care plans average $575.77 a month per participant for family coverage; for single coverage, employer contributions average $252.22 per month.
  • Employer contributions are higher for those employees who are not required to contribute than for those who are.
  • 21% of employees participate in defined benefit retirement plans, and 42% in defined contribution plans. (Some employees participate in both.)
  • Paid leave is the most commonly provided employee benefit in the private sector. Paid holidays and vacations are available to 77% of employees.
  • Paid jury duty leave was also common, available to 69% of workers.
  • 48% of workers have paid military leave benefits.

Note: This article is displayed by permission of the CPA Client Bulletin. The Bulletin carries no official authority. Its contents should not be acted upon without specific professional advice from a certified accountant. Copyright © 2006, American Institute of Certified Public Accountants, Inc.