Get more! Sign up for PLANSPONSOR newsletters.
Benefits May 24, 2011
Offering Annuities May Help with Workforce Planning
May 24, 2011 (PLANSPONSOR.com) – A new Mercer Perspectives report suggests that the most compelling incentive for plan sponsors to offer annuity investment options within defined contribution plans is to facilitate workforce planning.
Reported by Rebecca Moore
Employers may want to forecast changes in the workforce due to retirement so they can determine future hiring needs. Mercer says helping employees select an appropriate retirement vehicle may be one way of gaining a clearer picture of retirement patterns.
According to the report, other incentives Mercer has heard from plan sponsors include:
- Assisting late-career employees determine if they have sufficient resources to retire;
- Helping retirees manage the spend-down of assets;
- Providing access to group annuity pricing; and
- Improving the benefit program’s brand by delivering a complete retirement solution.
The report can be downloaded from http://www.mercer.com/articles/1416615.
You Might Also Like:
Plan Participants Expect to Work Past Age 65
For plan sponsors, retaining older workers will require greater attention to plan designs that support workers at older ages.
California Adds High School Financial Literacy Requirement
Lawmakers have presented retirement industry professionals a golden opportunity to help teachers instruct students about financial literacy and retirement readiness.
Products |
T. Rowe Price Launches Retirement Income Product Evaluation Framework
T. Rowe Price’s five-part framework aims to support plan sponsors’ evaluations of retirement income products.