Sept. 6, 2005: Report Details Costs Of Employee Benefits
WASHINGTON - A new report released by the Office of Advocacy of the U.S. Small Business Administration (SBA), called Cost of Employee Benefits in Small and Large Businesses, details employee benefit costs by company size. The report specifically looks at the cost of health insurance, pension plans, paid vacation, and sick leave.
The report finds that the offering of benefits and their associated costs can vary dramatically with business size. For instance, the latest data show that the per-participant administrative costs of defined-contribution pension plans - such as 401(k) plans - are as much as 14 times more for the smallest firms than for their largest counterparts.