Chamber Survey - Employers Pay More for Benefits
A new report by the U.S. Chamber of Commerce found that employers paid $3,000 more in employee benefits per employee in 2006 than in 2005. According to the Chamber's 2007 Employee Benefits Study, the average cost of employer-paid benefits per worker increased from $18,489 in 2005 to $21,527 in 2006.
Medical benefits accounted for 12.1% of companies' total payroll costs, according to the report. Retirement benefits accounted for 10.4% of benefits costs, and paid time off for vacations, holidays, and other paid time off represented 9.8% of costs.
More than 400 U.S. companies participated in the study, and more than 30 different types of benefits were analyzed by industry, company size, geographic region, and for-profit or nonprofit status.
The study can be purchased here.
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