Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Benefits October 27, 2008
Finances Keeping Workers up at Night
October 27, 2008 (PLANSPONSOR.com) - One thing is
clear about the nation's current economic woes: it has
employees scared to death.
Reported by Fred Schneyer
A news release by employee assistance program (EAP) provider ComPsych Corporation said 92% of workers polled indicated they toss and turn at night as they worry about money. However, a lucky 8% pronounced themselves free of economic concerns.
According to the announcement, workers who said financial concerns kept them up at night listed their specific worries as:
- 30% – the cost of living,
- 29% – credit card debt,
- 14% – mortgage payment,
- 13% – retirement account,
- 3% – kids’ tuition, and
- 3% – health care costs.
“As the largest EAP, our increased call volume has been a reflection of the financial stressors faced by U.S. employees,” said Richard A. Chaifetz, chairman and CEO of ComPsych, in the news release.