News You Can Use: Benefits accounted for nearly one-fifth of total compensation in 2007

Benefits account for nearly 20% of total compensation spending, states data from the nonpartisan Employee Benefit Research Institutes's 2007 study, published last week in the November issue of EBRI Notes.

Employers spent nearly $8 trillion at year-end 2007, up nearly 35% from the year 2000.

Wages and salaries accounted for the largest share, $6.4 trillion (or 81.4%), while benefits made up the remainder, $1.5 trillion (18.6%).

The largest portion of benefit spending remains in the retirement arena, at 47.7% of total benefits expenditure. Health costs, however, have risen to a close second at 42.8%. "Other benefits," which includes unemployment insurance, life insurance and workers compensation, rounded out the total at just under ten percent.