Access to retirement benefits varied by the characteristics of the employer's establishment. Workers in goods-producing industries, for example, are more likely to have access to retirement benefits than are workers in service-providing industries. In addition, workers in medium-sized and large private establishments (those with 100 employees or more) enjoyed a higher rate of access to retirement benefits than did their counterparts in smaller establishments.
Workers in medium-sized to large establishments also had greater access to medical care benefits. Seventy-two percent of employees in establishments with 100 or more workers had access to a medical care plan. In contrast, fewer than half of employees in small establishments had access to such a plan.
Access to many benefits may also depend on a worker's occupation. Workers in service occupations had far less access to life insurance in March 2003 than did white-collar or blue-collar workers. At 56 percent, workers in white collar occupations had the highest access rate to life insurance. Access to life insurance among blue-collar workers was 53 percent. Among service workers, the rate was just 29 percent.
A worker's wage rate is also related to access to benefits. Workers in occupations averaging $15 an hour or more were in a much better position with respect to access to benefits than were those in occupations averaging under $15 in March 2003. The difference was particularly striking in rates of access to long-term disability insurance. Only 17 percent of those earning under $15 had access to such coverage, compared with half of those in the higher earnings category. With regard to short-term disability insurance, 29 percent of those earning less than $15 per hour had access to this benefit, while 53 percent of those earning more than $15 per hour had access. Learn more about the factors affecting benefits in "National Compensation Survey: Employee Benefits in Private Industry in the United States, March 2003," Summary 04-02.
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||Labor Month in Review|
|Publication:||Monthly Labor Review|
|Date:||Jul 1, 2004|
|Previous Article:||Information sector productivity.|
|Next Article:||Why size class methodology matters in analyses of net and gross job flows: net and gross job flow statistics by size class are produced with data...|