Employers are offering creative perks to attract and retain today’s workers.
Plus all the HR resources you need to be more efficient and effective this fall!
Prepare for your exam with the guidance of a SHRM-certified instructor in Boston, Oct. 24-26.
Learn how to make the business case for diversity, October 25-27.
Employers in the U.S. report that the need to dedicate more of their benefits budget to health care coverage has reduced the dollars they spend on their retirement plans, according to a new study by the LIMRA Secure Retirement Institute (LIMRA SRI), a provider of research for the retirement industry.
Spending on defined contribution and defined benefit retirement plans together declined 7 percentage points since 1990, while employer spending on group health premiums rose 8 percentage points during the same period, according to the firm's analysis of federal data.
Separately, in a LIMRA SRI survey of U.S. employers, 43 percent said the Affordable Care Act (ACA) had affected their current retirement benefits strategy and spending, and 45 percent believed the ACA will change their retirement plans in the future.
Of those who said the ACA has changed their retirement benefits strategy:
"The added complexity and costs of health care are definitely taking a toll on employers' ability to manage their retirement savings plans," said Alison Salka, corporate vice president and director at LIMRA SRI, in an e-mail to
SHRM Online. "As a result, employers are looking for more support [from their plan administrators] to help them provide a comprehensive retirement savings program for their employees."
The findings, she continued, "underscore the opportunity for plan providers and advisors to help employers better manage the challenges associated with their retirement plans."
Stephen Miller, CEBS, is an online editor/manager for SHRM.
Related SHRM Article:
Compensation & Benefits e-Newsletter:
To subscribe to SHRM's Compensation & Benefits e-newsletter, click below.Sign Up Now
You have successfully saved this page as a bookmark.
Please confirm that you want to proceed with deleting bookmark.
You have successfully removed bookmark.
Please log in as a SHRM member before saving bookmarks.
Your session has expired. Please log in again before saving bookmarks.
Please purchase a SHRM membership before saving bookmarks.
An error has occurred
Recommended for you
The application deadline is October 21
SHRM’s HR Vendor Directory contains over 3,200 companies