Managing Benefit Risks and Costs
A new study examined finance executives’ current views on retirement and benefits issues. Read some of the highlights from this new research.
The comprehensive new study evaluates finance executives’ outlooks on a number of topics regarding defined benefit retirement programs. Overwhelmingly, they believe their ability to manage benefit risks and costs is essential to their organizations’ future success. Here are some of the study’s findings:
- The majority of those surveyed viewed employee satisfaction and retention as the biggest advantage of employees’ financial wellness. 78% of respondents felt that employers should assist employees in achieving financial wellness during their working years.
- Some executives expressed concern about the need to address gaps in the portfolio of defined contribution plan investments. They continue to look for ways to help employees manage their own retirement planning as the American workforce is aging.
- More and more companies are looking to outsource benefits administration, motivated by compliance with Affordable Care Act (ACA) and Americans with Disabilities Act (ADA) requirements.
For a more thorough analysis of this data, see the full article.