(Bloomberg) — If the rich get richer, one way is they have better insurance, heftier 401(k) plans, and a sturdier all-around benefits package. And the trend is making America's already wide income gap even worse.

Employers spend a median of 38 cents of each compensation dollar on benefits, according to an analysis by the Pew Charitable Trusts Foundation released on Thursday. But as compensation goes up, so do benefits. For every additional dollar of average hourly pay an employee gets, Pew finds, employers spend an additional 67 cents on benefits. 

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Employer-Paid
Retirement Trends