(Photo: Shutterstock)
Hybrid retirement plans for public employees have been around for decades, but they have experienced an increase in momentum in recent years as jurisdictions have sought to reduce costs. In its recently published resource, "Hybrid Handbook | Not All Hybrids Are Created Equal," the National Institute on Retirement Security (NIRS) provides an overview of public sector hybrid retirement plan design and recommendations for plan sponsors considering adding a hybrid option. NIRS said some shifts to hybrid designs have been made without a proper evaluation of the long-term implications of the plan changes, while others are well thought out and more likely to provide retirement security to employees, which aids with recruitment and retention of employees.
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.
