Subscribe to the Employee Benefits in the United States
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Standard Errors Life insurance plans: Flat-dollar amount benefit formulas
Table 22. Standard errors for life insurance plans: Flat-dollar amount benefit formulas,1 private industry workers, National Compensation Survey, March 2011
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Characteristics
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Flat dollar amounts2
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10th percentile
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25th percentile
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50th percentile (median)
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75th percentile
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90th percentile
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Management, professional, and related
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Management, business, and financial
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Office and administrative support
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Natural resources, construction, and maintenance
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Construction, extraction, farming, fishing, and forestry
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Installation, maintenance, and repair
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Production, transportation, and material moving
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Transportation and material moving
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Average wage within the following categories:3
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Establishment characteristics
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Goods-producing industries
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Service-providing industries
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Trade, transportation, and utilities
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Transportation and warehousing
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Credit intermediation and related activities
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Insurance carriers and related activities
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Education and health services
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Health care and social assistance
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Accommodation and food services
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1Includes participants in plans providing a fixed benefit amount. Dollar amounts can be a flat amount or can vary by the employee’s earnings or length of service.
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3The categories are based on the average wage for each occupation surveyed, which may include workers with earnings both above and below the threshold. The average wages are based on the estimates published in the "National Compensation Survey: Occupational Earnings in the United States, 2010." See Technical Note for more details.
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2The 10th, 25th, 50th, 75th, and 90th percentiles designate position within each published series. For example, at the 50th percentile or median, half of participating workers receive the same as or more than the amount shown, and half receive the same as or less than the amount shown. At the 25th percentile, one-fourth of participating&n
bsp;workers receive the same or less than the amount shown. The remaining percentiles follow the same logic.
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NOTE: For definitions of major plans, key provisions, and related terms, see the "Glossary of Employee Benefit Terms" at www.bls.gov/ncs/ebs/glossary20102011.htm.
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