The Department of Labor’s Bureau of Labor Statistics (BLS) reports that the cost of retirement benefits amounted to an average of 5% of employers’ compensation expenditures in March. The BLS released the information on June 14.
The BLS says that benefits overall amounted to an average of 31.5% of what employers spent on compensation in March.
Retirement benefit expenses comprised an average of 5.1% of employers’ compensation expenditures in March, the BLS reports. Of that, defined benefit plans came to 3.2% and defined contribution plans 1.9%, respectively, of compensation.
The BLS says that benefits overall amounted to an average of 31.5% of what employers spent on compensation in March.
Retirement benefit expenses comprised an average of 5.1% of employers’ compensation expenditures in March, the BLS reports. Of that, defined benefit plans came to 3.2% and defined contribution plans 1.9%, respectively, of compensation.
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