June 11, 1999 (The Editor’s Desk is updated each business day.)

Savings and thrift plans in small private establishments

In small private establishments in 1996, about a quarter of full-time workers participated in savings and thrift plans. Participation in these plans varied by occupation—blue-collar and service employees were the least likely to participate.

[Chart data—TXT]

In 1996, 32 percent of professional and technical employees and 29 percent of clerical and sales employees participated in a savings and thrift plan. Only 16 percent of blue-collar and service employees were participants in such a plan.

In savings and thrift plans, employees may contribute a predetermined portion of earnings to an account. Savings and thrift plans allow employees to choose from a range of contribution rates. The average maximum contribution for all occupations in 1996 was 14 percent.

The Employee Benefits Survey produces data on participation on a variety of non-wage compensation items. More information on benefits in small firms is available in Employee Benefits in Small Private Establishments, 1996 BLS Bulletin 2507, (PDF 530K).