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TABLE D7

Comparison of Pension Benefits and Benefit Characteristics for New^1/ Private Pensioners in 1989 and 1994 by size of firm
Item	1989			1994
Item	Total	Firms with Fewer than 500 Employees	Firms with 500 or More Employees	Total	Firms with Fewer than 500 Employees	Firms with 500 or More Employees
PERCENT DISTRIBUTION OF RECIPIENTS BY SIZE OF FIRM	100	27	73	100	21	79
PERCENT DISTRIBUTION OF RECIPIENTS BY GENDER
Total	100	100	100	100	100	100
Men	65	63	65	69	65	71
Women	35	37	35	31	35	29
YEARS OF SERVICE
Mean	25	22	26	24	21	25
Median	25	21	27	24	20	25
ANNUAL EARNINGS (1994 dollars)
Mean	33,765	28,554	35,610	41,353	32,202	43,742
Median	30,805	24,644	30,805	33,800	26,000	36,400
RETIREMENT AGE
Mean	62	62	61	60	61	60
Median	62	62	62	61	62	60
ANNUAL PENSION^2/ (1994 dollars)
Mean current benefit	9,206	6,304	10,664	12,107	6,946	13,552
Median benefit amount	6,600	4,550	7,820	8,400	3,600	9,780
PENSION WAGE REPLACEMENT
Mean replacement rate	28	26	29	32	25	32
Median replacement rate	20	19	25	27	22	29
PLAN GENEROSITY^3/
Mean	1.12	1.18	1.12	1.33	1.19	1.28
Median	0.80	0.90	0.93	1.12	1.10	1.16

^1/ New pensioners are persons who first received benefits in the year of the survey or the prior year.

^2/ Largest pension received from a single plan. Excludes any pension benefits received from additional plans.

^3/ Crude measure of plan generosity computed directly from data in this table without taking into account the type of annuity received. Mean plan generosity is computed by dividing mean pension wage replacement rate by mean years of service. Median plan generosity is similarly computed using medians.

SOURCE: Data for 1989 are tabulated from the Pension Benefit Amounts Supplement to the December 1989 Current Population Survey. Data for 1994 are tabulated from the Retiree Pension and Health Benefits Supplement to the September 1994 Current Population Survey.

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