(Photo: Shutterstock)
Some of the country's largest and most storied brands like Ford and Coca-Cola have long offered a pension plan—a benefit that historically helped maintain talent and reward employee loyalty with the promise of a steady stream of income lasting the length of the employee's retirement. In fact, a recent survey by Athene uncovered that over one-third of Americans (36%) indicated that they are primarily dependent on employer-sponsored retirement plans to save for retirement. Yet the world of private-sector pensions has become increasingly smaller, with only 15% of private industry employees being offered a traditional pension plan in 2021, according to the Bureau of Labor Statistics.
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.
