Type of retirement income benefits offered to new hires
Full Question Text
There are a number of different types of retirement income benefits that local governments might offer personnel, including a defined contribution plan (i.e., IRA, 401a, 457b, or 401k-type plan), a defined benefit plan (i.e., a traditional pension), or a hybrid plan (i.e., a plan that combines features of both defined benefit and defined contribution plans for an individual). Which type(s) of retirement income benefits, if any, does your jurisdiction offer to new hires? (Among those jurisdictions that reported offering some kind of retirement income benefits)
| % within Jurisdiction Type | ||||||
| Jurisdiction Type | Total | |||||
|---|---|---|---|---|---|---|
| County | Township | City | Village | |||
| There are a number of different types of retirement income benefits that local governments might offer personnel, including a defined contribution plan (i.e., IRA, 401a, 457b, or 401k-type plan), a defined benefit plan (i.e., a traditional pension), or a hybrid plan (i.e., a plan that combines features of both defined benefit and defined contribution plans for an individual). Which type(s) of retirement income benefits, if any, does your jurisdiction offer to new hires? (Among those jurisdictions that reported offering some kind of retirement income benefits) | Defined Contribution | 52% | 35% | 54% | 47% | 43% |
| Defined Benefit | 35% | 12% | 36% | 21% | 21% | |
| Hybrid | 18% | 4% | 17% | 6% | 9% | |
| No Retirement Income Benefits | 3% | 15% | 1% | 8% | 10% | |
| Not Applicable | 1% | 30% | 1% | 12% | 18% | |
| Don't Know | 0% | 5% | 2% | 11% | 5% | |
| % within Population Size | |||||||
| Population Size | Total | ||||||
|---|---|---|---|---|---|---|---|
| <1500 | 1500-5000 | 5001-10000 | 10001-30000 | >30000 | |||
| There are a number of different types of retirement income benefits that local governments might offer personnel, including a defined contribution plan (i.e., IRA, 401a, 457b, or 401k-type plan), a defined benefit plan (i.e., a traditional pension), or a hybrid plan (i.e., a plan that combines features of both defined benefit and defined contribution plans for an individual). Which type(s) of retirement income benefits, if any, does your jurisdiction offer to new hires? (Among those jurisdictions that reported offering some kind of retirement income benefits) | Defined Contribution | 30% | 35% | 53% | 65% | 62% | 43% |
| Defined Benefit | 10% | 21% | 28% | 35% | 25% | 21% | |
| Hybrid | 4% | 8% | 15% | 12% | 14% | 9% | |
| No Retirement Income Benefits | 16% | 11% | 6% | 1% | 4% | 10% | |
| Not Applicable | 34% | 22% | 2% | 0% | 2% | 18% | |
| Don't Know | 6% | 6% | 4% | 0% | 0% | 5% | |
| % within Region of Michigan | ||||||||
| Region of Michigan | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| Upper Peninsula | Northern Lower Peninsula | West Central Lower Peninsula | East Central Lower Peninsula | Southwest Lower Peninsula | Southeast Lower Peninsula | |||
| There are a number of different types of retirement income benefits that local governments might offer personnel, including a defined contribution plan (i.e., IRA, 401a, 457b, or 401k-type plan), a defined benefit plan (i.e., a traditional pension), or a hybrid plan (i.e., a plan that combines features of both defined benefit and defined contribution plans for an individual). Which type(s) of retirement income benefits, if any, does your jurisdiction offer to new hires? (Among those jurisdictions that reported offering some kind of retirement income benefits) | Defined Contribution | 37% | 36% | 40% | 39% | 41% | 56% | 43% |
| Defined Benefit | 28% | 14% | 17% | 15% | 26% | 27% | 21% | |
| Hybrid | 9% | 7% | 9% | 4% | 13% | 11% | 9% | |
| No Retirement Income Benefits | 11% | 17% | 12% | 10% | 5% | 5% | 10% | |
| Not Applicable | 16% | 26% | 21% | 28% | 14% | 6% | 18% | |
| Don't Know | 4% | 5% | 5% | 5% | 5% | 3% | 5% | |