HR Management & Compliance

News Notes: Employee Benefits Data Now Available

The federal Bureau of Labor Statistics has just released a new survey showing the latest trends in employee benefits. The study describes what medium and large private employers offer in terms of paid leave, health and retirement benefits, and life insurance, and it provides a useful benchmarkfor comparing your own employee benefit plans. When it comes to vacation time, the survey found that employees receive from 10 to 22 days of vacation, depending on years of service. Thirty-three percent of employees with employer-sponsored medical benefits enrolled in HMOs in 1997-the latest year for which figures are available-while 40% were in PPOs and only 27% had traditional fee-for-service plans. The study also analyzes the increasing popularity of defined contribution plans over defined benefit plans, and points out other statistics such as the average 50 cents on the dollar that employers provide to match workers’ contributions to savings and thrift plans. The report is available on the Web at the Bureau of Labor Statistics.