Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 16th, 2015
Benefits & Administration
Most States Meeting Commitments to Fund Pensions
An analysis of the experience of 112 state-sponsored and statewide public pension plans in the U.S. for fiscal years 2001 through 2013 finds most states are meeting their commitments to fund their plans, with only a few conspicuously failing. The National Association of State Retirement Administrators (NASRA) examined the performance of state governments in meeting the annual required contribution (ARC)—as defined by the Government Accounting Standards Board (GASB)—of their public employee retirement plans. The 112 plans account for more than 80% of all public pension assets and participants.Read more >
Among all working households—not just households with retirement accounts—the median retirement account balance is $2,500, according to an analysis by the National Institute on Retirement Security (NIRS). The median retirement account balance was $3,000 for all working-age households as reported in a 2013 report from NIRS. The organization examined the readiness of working-age households, based primarily on an analysis of the Survey of Consumer Finances from the U.S. Federal Reserve System. Nearly 40 million working-age households (45%) do not own any retirement account assets, in either an employer-sponsored 401(k)-type plan or an individual retirement account (IRA).Read more >
‘Integrated’ Well-Being Programs Yield Better Results
‘Integrated’ wellness programs produced more positive results for employers than did traditional wellness programs, according to a study by WorldatWork. Supporting workers both at the office and beyond can have positive results for an employer in terms of increased productivity, engagement levels and employee satisfaction, as well as positive changes in employee behaviors. This differs from organizations that limit employee well-being to more traditional wellness offerings with the sole purpose of lowering health care costs, WorldatWork says in its survey report, “Total Rewards and Well-Being.”Read more >