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US / Defined contribution retirement plans cost more than defined benefit

Private industry employers now spend more per employee hour worked for defined contribution retirement plans (retirement plans that specify the level of employer contributions and place those contributions into individual employee accounts) than for defined benefit retirement plans (plans that provide employees with guaranteed retirement benefits that are based on a benefit formula).  March 2012 private industry employer costs for defined contribution plans were 60 cents per employee hour worker, compared to 43 cents for defined benefit plans.

FireShot Screen Capture #264 - 'Employer costs for defined benefit and defined contribution retirement plans _ The Editor’s Desk _ U_S_ Bureau of Labor Statistics' - www_bls_gov_opub_ted_2012_ted_20121226_htm

Choosen excerpts by Job Market Monitor from

'Job Openings and Labor Turnover Summary' - www_bls_gov_news_release_jolts_nr0_htm

via Employer costs for defined benefit and defined contribution retirement plans : The Editor’s Desk : U.S. Bureau of Labor Statistics.

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  1. Pingback: US / Delaying retirement / From 42% in 2010 to 62% in 2012 among workers between the ages of 45 and 60 « Job Market Monitor - February 2, 2013

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