The report provides in-depth industry analysis, information, and insights of the employee benefits in the US, including an overview of the state and compulsory benefits in the US, detailed information about the private benefits in the US, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in the US.
The US Social Security system covers more than 96% of the total workers employed in the US. As of December 31, 2024, nearly 90% of individuals aged 65 and older were receiving Social Security benefits, which make up about 31% of their income. Among these beneficiaries, 39% of men and 44% of women rely on Social Security for at least half of their income. Additionally, 12% of men and 15% of women aged 65 and older depend on Social Security for 90% or more of their income. The motive of providing employee benefits is to support the economic security of an individual by insuring against unsure events and to raise the standard of living by providing desired services. Employee benefit programs also add to economic stability by helping to secure the population’s income and welfare; benefitting the economy as a whole.
The US Social Security system covers more than 96% of the total workers employed in the US. As of December 31, 2024, nearly 90% of individuals aged 65 and older were receiving Social Security benefits, which make up about 31% of their income. Among these beneficiaries, 39% of men and 44% of women rely on Social Security for at least half of their income. Additionally, 12% of men and 15% of women aged 65 and older depend on Social Security for 90% or more of their income. The motive of providing employee benefits is to support the economic security of an individual by insuring against unsure events and to raise the standard of living by providing desired services. Employee benefit programs also add to economic stability by helping to secure the population’s income and welfare; benefitting the economy as a whole.
Key Highlights
- Social Security Administration (SSA), Department of Health and Human Services, Centers for Medicare and Medicaid Services, and Department of Labor organizations are responsible for the functioning of the overall social security system.
- A person’s national insurance contribution is determined based on their income.
- An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to a credited contribution.
- In the US, employers offer supplementary retirement benefits through DB, DC, or Cash Balance (hybrid) plans under Pillar II.
Scope
This report provides a detailed analysis of employee benefits in the US:
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment benefits, supplemental security income, leaves and holidays and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in the US
Reasons to Buy
- Make strategic decisions using in-depth information related to employee benefits in the country
- Assess employee benefits of the market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in the country
- Gain insights into key organizations governing employee benefits market, and their impact on companies
Table of Contents
1. Executive Summary3. Country Statistics4. Overview of Employee Benefits in the US5. Regulations
2. Introduction
6. State and Compulsory Benefits
7. Private Benefits
List of Tables
