Healthcare Organizations Help Employees Retire

May 27, 2008     No Comments

The 2008 Healthcare eSurvey found at least 97 percent of organizations offer a retirement plan in each of the nine states surveyed.

Preparing financially for retirement is a topic of concern for many Americans. The 2008 Healthcare eSurvey found at least 97 percent of organizations offer a retirement plan in each of the nine states surveyed. However, the percentage offering each type of plan varies by state.

Many healthcare providers offer defined contribution plans only. When comparing the states surveyed, the percentage offering ranges from 41.8 to 73.9 percent. The 2008 Healthcare eSurvey found Indiana had the highest percentage of healthcare providers offering defined contribution plans. It was followed by Michigan at 65.5 percent and Tennessee at 62.7 percent. Ohio healthcare providers had the lowest percentage offering this type of plan, 41.8 percent.

State
% Offering DC Plan Only
% Offering DB & DC Plans
Iowa
57.9%
35.1%
Illinois
60.8%
33%
Indiana
73.9%
23.9%
Kentucky
50.5%
45%
Michigan
65.5%
32.7%
Missouri
47.2%
50%
Nebraska
57.5%
36.8%
Ohio
41.8%
51.9%
Tennessee
62.7%
33.3%

Some organizations offer both defined benefit and defined contribution plans. The 2008 Healthcare eSurvey found Ohio health care organizations had the highest percentage providing both types of plans, 51.9 percent. They were followed by Kentucky at 45 percent. Less than a quarter of Indiana healthcare providers offered both plans, and in five of the states surveyed, between 32 and 37 percent provided both.

About the Survey
The 2008 Healthcare eSurvey results feature data for more than 300 health care specific job titles and also contain data by bed size, number of employees, revenue and geography. The results provide a comprehensive summary of pay and benefits data tailored to the health care industry with an effective date of January 1, 2008. For further information about the compensation and benefits surveys, contact Amy Kaminski at (800) 300-9570 or akaminski@compdatasurveys.com.

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