BLS Releases Figures On Employee Benefits In Private Industry

In March 2004, 59% of employees in private industry had access to retirement benefits, with 50% participating in at least one type of retirement plan; and 69% of workers had access to employer-sponsored medical care plans, with 53% participating in the plans, according to the results of the 2004 National Compensation Survey by the Bureau of Labor Statistics (BLS).

The survey also found that paid leave was the most commonly provided employee benefit in the private sector, with 77% of employees having access to paid vacations and holidays. Life insurance was available to 51% of employees, and 48% participated. Of the 39% of employees with access to short-term disability benefits, and the 30% of workers offered long-term disability benefits, nearly all participated.

Among those covered by retirement plans, 21% of employees were in defined benefit plans, and 42% were in defined contribution plans, while the remainder participated in both types.

The majority of workers covered by health insurance were required to make contributions for both single and family coverage. The survey indicated that employee contributions to medical care premiums averaged $264.50 per month for family coverage, and $67.57 per month for employee coverage.