A new study from LIMRA Secure Retirement Institute has found that 92 percent of employers are taking specific action to help older workers stay on the job.
According to LIMRA Secure Retirement Institute, 73 percent of employers have planned for benefits costs to increase as a consequence of having older workers in their companies.
According to the U.S. Bureau of Labor Statistics, one-third of the U.S. labor force is 50 or older. As more employees begin to reach the traditional retirement age, employers need to examine their policies and procedures to address the potential loss of talented and experienced workers.
New LIMRA Secure Retirement Institute (LIMRA SRI) research suggests that “satisfied” employees are more likely to feel positive about their employer, their employer-sponsored retirement benefits, and more likely to feel their employers help them plan for retirement.
Workplace benefits have long been a perk of employment, but over the years they have changed to keep up with workers’ needs.
As the calendar changes to 2016, employers with an aging workforce face the constant challenge of managing their benefits costs.
Gig work, like being an Uber driver or freelance writer, has become more commonplace. LIMRA research shows 26% of all U.S. workers participate in gig work either as their primary job or as a secondary source of income and almost three quarters of these workers believe they will continue working in this capacity over the next five years.
Explore how employer incentives may delay employees’ retirements and for how long.
Less Than a Third of Employers With Defined Contribution Plans Surveyed Say They Are Very Likely to Switch to a State-run Retirement Savings Plan Offered in Their State
A recent LIMRA Secure Retirement Institute study finds 30 percent of employers who offer a defined contribution (DC) plan say they are very likely to stop offering their defined contribution plan and have their employees enroll in a state-run retirement savings plan.