| | Benefits & Administration | | Financial Barriers Delay Retirement for Boomers | | Baby Boomers are faced with a number of financial barriers, including lower investable assets and the increasing cost of health care, that are delaying retirement. Of those still working, more expect to retire after age 65 (43%) than before (16%), with just two in 10 (19%) expecting to retire at age 65. Many are concerned about meeting their financial needs in retirement as just one-third (38%) feel very or extremely confident about their retirement savings, two-thirds (62%) express some doubts, and a quarter (25%) are not too confident or not confident at all. Read more > | | Wellness Incentives Most Common Health Benefit Change | | Research from the Society for Human Resources
Management (SHRM) and the Employee Benefit Research Institute (EBRI) found most
employers are not planning to make changes to eligibility for spousal coverage
and part-time worker benefits, and less than one in ten are moving toward
tiered networks (3.6%), private health insurance exchanges (3.2%), value-based
insurance design (2.6%) and reference pricing (0.6%). Employers may be waiting
for evidence from early adopters before making untested changes, EBRI
says. Read more > | | Fed Data Shows Fewer Own DC Plan Accounts | | The share of families with an individual account retirement plan is ticking down, but the assets in those plans are going up, according to a new analysis by the Employee Benefit Research Institute (EBRI). The percentage of all families with plans such as a 401(k) or an individual retirement account (IRA) decreased from 52.8% in 2001 to 48.2% in 2013, based on the most recent data from the 2013 Survey of Consumer Finances (SCF) from the Federal Reserve. Retirement plan ownership from a current employer among families declined from 2010 to 2013, but the percentage of family heads who were eligible for defined contribution (DC) plans and chose to participate held essentially stable at 78.2% in 2010, compared to 78.7% in 2013.Read more > |
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