The bigger the retirement plan, the more likely an employer would be ready to abandon it to shift employees to a state-run retirement plan.
But the more concerned the employer is about an employee's ability to save adequately for retirement, the less likely the employer is to shutter its defined contribution plan and push employees onto state-run plans.
A blog post at the LIMRA site points to a recent LIMRA Secure Retirement Institute study finding that while 30 percent of employers offering a DC plan say they're "very likely" to stop offering the DC plan and have their employees enroll in a state-run retirement savings plan, an equal number say they're not "very likely" to do so.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
