While smaller employers have been a well-regarded engine
of growth for the 401(k) industry over the past several
years, a whopping 43% of those without retirement plans
already in place say they are not at all likely to offer
one in the next two years, according to the sixth annual
Small Employer Retirement Confidence Survey (SERS) released
today by the Employee Benefit Research Institute (EBRI),
American Savings Education Council (ASEC), and Mathew
Greenwald & Associates.
In 1998, only 32% were so strongly opposed to doing so.
Among respondents to the 2003 SERS, just 7% of those who
aren’t currently offering a plan say they are very likely
to do so in the next two years (versus 17% in 1998), while
another 22% say they are somewhat likely to start a
plan.
As for what would spur these non-plan sponsors to change
their status, more than a third (34%) cited an increase in
business profits – a change that would influence 39% to be
somewhat more likely to offer a plan.
Indeed, more than a quarter (27%) of nonsponsors say they
do not offer a plan because of low or uncertain revenue.
Also cited as factors that would make a plan offering much
more likely were:
30% – a plan that requires no employer
contributions
23% – increased business tax credits for starting a
plan
20% – a plan with reduced administrative
requirements
20% – availability of easy-to-understand
information
18% – greater tax advantage for key executives
Just 15% said increased demand from employees would
render a decision to offer a plan “much more likely”,
though 40% said it would then be “somewhat more
likely.”
Not surprisingly, those who are very likely to offer a
plan in the near term were much more likely to believe that
a retirement plan offers their business a competitive
advantage in employee recruitment and retention and in
motivating employees.
Plan Profiles
The survey’s authors note that while 58.1% of full-time
employees in medium- and large-sized firms participate in
an employment-based retirement plan, just 28.8% of
full-time employees at smaller firms (99 or fewer workers)
do.
The survey found that smaller employers without retirement
plans tend to have revenues of less than $2 million (70%),
tend to be family-owned businesses (61%), and nearly
two-thirds (66%) have been in business for at least a
decade.
There is a knowledge gap among nonplansponsors as well.
Nearly half (47%) have never heard of Simplified Employer
Pensions (SEP), while another 26% have heard of them, but
are “not too familiar” with the programs.
Thirty-seven percent have never heard of a traditional
pension plan, and nearly a third (32%) are clueless about
Savings Incentive Match Plan for Employees (SIMPLE).
Just 2% say they have never heard of a 401(k) – and 46% say
they are “very familiar” with those plans.
Most (82%) know that employers don’t have to allow
employees eligible for 401(k) participation immediately,
but only 54% know that workers are not always immediately
vested in employer contributions, just 53% know that
employers can structure those programs so that the only
employer contributions required are matching contributions,
and only 52% know that in some profit-sharing plans a
contribution is not required every year.
The 2003 SERS is a survey of 300 small employers (those
with 5 to 100 full-time workers) without a retirement plan,
and 31 that have had one in place for less than a year.
March 6, 2003 (PLANSPONSOR.com) It used to be that
the hours were long, but at least when you left work, you
left work - at work. But as much as we all may love (or at
least like) our jobs, the reality seems to be that it (the
job) comes home with us more and more. This week we asked
readers how much work they're bringing home.
I have to admit that I was surprised to find that more
than half (56%) of this week’s respondents are bringing
home less than 5 hours of work each week.
Not that it had always been the case for that group – many
claimed to have had a different approach once upon a time,
and a sizeable number apparently are putting in plenty of
hours AT the office – but have chosen to leave work at
work.
One noted,
“I don’t take any work home with me any longer – not
since I’ve been asked to be here at 6:00 a.m. and don’t
leave until 5:00 p.m.
But, I will come in on a Saturday or two each month, just
for a few hours.”
Another noted,
“We have a policy in our house that says no work is
brought home.
If you have work to do, stay at work and do it, but don’t
bring it home.
This works well for us.” “The separation of work and home
are right up there with the separation of church and state
in my mind,”
said another.
Roughly 28% said they are bringing home 5-10 hours of
work/week.
Interestingly enough, while not every respondent offered
additional comments, among those that did THIS was the
group that seemed most upset by the amount of work they
were being asked to bring home, although resigned to it.
As one noted,
“5 – 10 hours on average, but sometimes more and never
less We’re being asked to do more and more with less and
less resources (money and people) and to come up with
innovative new ideas.
Amidst layoffs in other departments, taking work home is a
matter of survival of the fittest.”
Another noted,
“I’m in the 5-10 hour range if you don’t count the time
I spend worrying.”
Another readers pointed out,
“The reality is that in Human Resources, the employees
are always there, the work is always there, and there’s
something new (not necessarily exciting) everyday. The
interesting thing about all this is that the reason I do
work at home is 1) there’s a lot to finish and 2) I don’t
know what World War will hit the next day. Reason #1 would
really never get done because of reason #2.
:).”
One summed up the heart of the problem of overwork as
follows,
“The problem for me is not so much the physical work
time is
that I can NEVER really get away from work.
Even if I don’t physically bring work home, it’s weighing
on my mind and haunting my sleep.
There are not enough hours to do everything that has to be
done; everything is “top” priority and I certainly don’t
have enough staff to off load anything so it’s always
there. The never ending stream of government intervention
and tinkering with laws, imposing new requirements and
changing old is exhausting.”
But even that reader finished with the following,
“On the positive side though, I always have something to
do that suits my mood for the day, strategic, detail,
numbers, writing – there’s always something. So enough
whining-it’s time to go back to work!”
Roughly 8% each were in the 10-20 hours/week and the
“might as well be a second job” category, although as one
reader observed,
“You didn’t have a choice “don’t ever leave work”
Not that the “might as well be a second job” types are
complaining.
Check out the comment from this reader,
“I spend 10 to 11 hours in the office every day.
I spend additional time at home just about every evening.
Then — there’s the weekends.
I vote (d) but with a smile.
I choose to do this.
I’m having fun.
I can’t understand why more people aren’t here with
me.”
No question we’re all no doubt working harder than ever
before – but, in a refreshing contrast with the machisimo
attitudes that once dominated such discussions, the vast
majority of this week’s respondents seem to be making a
conscious – and conscientious – decision to carve out time
for the things that are, after all, more important than the
job – however much we love it.
Nonetheless, this week’s Editor’s Choice could well be a
sampler for many an office wall, ”
Be it ever so humble my Office is my Home.”
Thanks to everyone who participated in our
survey!
I very seldom bring home work from my job.
And I love my job.
We have a policy in our house that says no work is
brought home.
If you have work to do, stay at work and do it, but don't
bring it home.
This works well for us.
I can't quantify hours since I can be working 24/7 with
voicemail and ability to log into our network from home.
Often, as I am this a.m. I log in early, clear up some
e-mail and then head for the office.
I always check e-mail and monitor some publications on
weekends. So, clearly the advent of technology has meant
that workweeks have stretched.
But, also as my career has advanced, more responsibility
has meant more time -- I think that would be the same even
w/o technology and most likely it would mean more hours in
the office and away from my family
You have to draw the line somewhere and personal time is
very important.
Sometimes money is not the only thing in life.
I don't take any work home with me any longer - not
since I've been asked to be here at 6:00 a.m. and don't
leave until 5:00 p.m.
But, I will come in on a Saturday or two each month, just
for a few hours.
I spend 10 to 11 hours in the office every day.
I spend additional time at home just about every
evening.
Then -- there's the weekends.
I vote (d) but with a smile.
I choose to do this.
I'm having fun.
I can't understand why more people aren't here with me.
During a good week, it's b).
During a bad week, it's c).
Given that I'm replying to this survey at 5:20 a.m., this
is definitely going to be a c) week.
Keep up the good work.
Considering I work from home for the first two hours of
every day, I could very well answer "C" to that question,
but since I am considering my hours worked in the morning
to be "work at home" I don't know if that qualifies. I
guess I would say outside of the 40+ hours a week I might
put in at the office and the home-office, I work another 5
or so at home outside of regular work hours (at nights and
on weekends), so put me down as a B.
a) less than 5 hours (it took me 13 years to get there
but I can finally leave work where it belongs.....of course
that would have nothing to do with disillusionment from
mergers, displacements of intelligent, hard-working,
dedicated co-workers).
I wish it were (e) NONE! But I have to say (c) [closer
to the 15 to 20 hour range]
I love my job, I truly do, and wouldn't trade it in for
the world (well, maybe if I won a million $'s).
However, the reality is that in Human Resources, the
employees are always there, the work is always there, and
there's something new (not necessarily exciting) everyday.
The interesting thing about all this is that the reason I
do work at home is 1) there's a lot to finish and 2) I
don't know what World War will hit the next day. Reason #1
would really never get done because of reason #2.
🙂
I say (a) less than five hours.
I am a CPA who bailed from public accounting due to long
hours - both in the office and at home.
I am now happy in corporate America - pleased to say that
in the last four years I have only taken work home twice.
Yes, that does require some extra hours at the office on
occasion, but not that often.
I have the attitude - "I work to live, not live to work".
If my job changes to require long hours in and out of the
office - I will have to say - I was looking for a job when
I found this one.
5-10 hours at a minimum.
With companies 'slimming down' and running on skeleton
crews, and people taking on more and more responsibilities,
it has become necessary to take work home - even if it's
reading 'trade' magazines to keep caught up with issues,
policies, and information!
Good Question. I'd like to say B but the reality of the
situation is C.
As a general rule, I try to limit this time to early in the
AM on weekends or late in the evening when it does not
interfere with other family activities.
A) Less than 5 hours.
I try not to take any work home at all.
The separation of work and home are right up there with the
separation of church and state in my mind.
I generally try not to work at home but it's getting
harder and harder to keep the separation.
I probably could work 5-10 hours a week easily and
depending on the seriousness of the project, I do.
The problem for me is not so much the physical work time is
that I can NEVER really get away from work.
Even if I don't physically bring work home, it's weighing
on my mind and haunting my sleep.
There are not enough hours to do everything that has to be
done; everything is "top" priority and I certainly don't
have enough staff to off load anything so it's always
there. The never ending stream of government intervention
and tinkering with laws, imposing new requirements and
changing old is exhausting.
On the positive side though, I always have something to
do that suits my mood for the day, strategic, detail,
numbers, writing - there's always something. So enough
whining-it's time to go back to work!
(b) 5-10 hours. Could be more, but I start burning out
after 10. 🙂
I leave work at work.
Though sometimes it requires longer hours, I don't bring it
home.
Home is my sanctuary!
Survey response.
a) Less than 5 hours per week, unless you count time
studying for actuarial exams.
Then, I believe c) would be a conservative response.
- (a) I am at the office from 6:00 a.m. until I am done,
however late that may be. I never take work home. I never
talk about it at home and rarely think about it at home.
That is why I still have some remnants of my sanity.
Less than 5 hours per week.
The company I currently work for stresses balance between
home/family and work.
This is different than past places where there were
mandatory Saturdays and 10-20 hours of "extra" per week was
expected--with at least half of that being in the
office.
Average workday is 10 hours (arrive at 8am, leave at
6pm).
Work done "at home" varies.
Usually "catch up" reading or projects requiring
concentration.
Since I'm in HR, after hours & weekend calls/interviews
with candidates are common.
One employer (for whom I no longer work) gave all mgt cell
phones "so you can use your commute time productively
listening to and responding to voicemails."
a) Less than 5 hours.
But I've had to "work" at getting it down to that.
Use to be more; but the older I get, the more valuable my
personal time is to me.
And the less stamina I have to work more than 40 a
week!
a) Not much at all....made a commitment to family last
year
While I normally take 5-10 hours of work home each
weekend, I also work extended hours - typically a 10 hour
day 5 days a week.
Be it ever so humble my Office is my Home.
Our processing has become so efficient that I haven't
had to put in any OT (own time) in 2 years.
Prior to that however, 55 hour weeks were not uncommon.
Lately...the last two years.
Work has been 7 to 7, dinner and THEN you get to respond to
emails until bed.
The good thing is, we get PTO where we can actually be
productive on work projects.
a) For the most part, I just spend 10-15 minutes a day
checking e-mails.
a -- less than 5 hours.
Since both my husband and I are employed at the same place,
we have made a conscious effort NOT to bring work home.
Makes for some long hours at the office, but it keeps home
a haven.
As a tax accountant, I'm spending more time in the
office than I would normally, but on average I take home
(a) less than 5 hours worth of work a week.
My problem is that I also typically work 5-10 hours a
week of "overtime" at the office during the non-busy season
which, of course, I don't get compensated for since I'm a
"professional" and considered an exempt employee.
I'd like to know what happened to the 40-hour workweek.
I haven't work one of those in so many years that I can't
even remember when the last time was!
Are there any professionals out there that actually work a
40-hour workweek?
With pay freezes and staff cuts, I have refused to take
any work home.
What gets done in the 10-hour days in the office is all
that gets done!
Take NO work home.
When I leave, I leave.
I have enough to do at home....
I work hard enough during the day that I actually get the
work done.
Or at least as done as I deem acceptable - there will never
be a point at which it is actually ALL done, there's always
something....
Seems like the ones who have to work late or take work
home are the same ones who spend all day gabbing and lolly
gagging around....
Gee, could there be a connection here??
Hmmmm.....
a)...on average.
One of the advantages of "maturity" is the
realization that work isn't "my life", but just a part of
it.
There are much more important reasons for my existence, but
it took me a few years to learn it and take responsibility,
rather than letting others dictate my priorities.
I'm not completely cured of the delusion that I am defined
by my work, but well along the path to recovery.
The day I begin taking work home is the day I
retire!
5 to 10 hours a week, of course except during (1) August
through January, (2) our bi-annual mergers, (3) weeks of
Board Finance Committee meetings.
Corny as it sounds, I dropped from the "second job"
category once we had a child.
But now "midnight feedings" are midnight emails!
A; Luckily I can still leave work at work, but if I
want/have to work more, then I have to go back to work...on
the weekend.
Times,
they are a changin'........In what seems to be the "other
way", at least for me anyway.
Where years ago I used to eat, sleep and drink work, I
have now purposely chosen to leave the office,
well,......at the office!
Although I still put in about 10-11 hours each day (M-F)
at the office, it is a very rare occasion indeed that I
will bring any work home.
Depends on the time of year; our business is seasonal,
so I'm swamped during some periods and enjoy a 40-hour
workweek in other periods.
Right now, I'm in the "oh-yeah-just-40-hours-this week"
period!
So, the answer to your question is a.) Less than 5 hours.
Yahoo!
c) 10-20 hours a week at home
I have 2 kids in pre-school so my hours in the office
are limited to 35 to 37 hours a week.
As a result, I work 1 to 2 hours in evenings after they go
to bed.
On weekends I work during their naps and Sunday nights.
I live a dull life.
Take homework -less than 5 hours.
Actually, almost zero.
Overtime is occasionally required, but I very rarely work
from home.
I bring home, on average, (a) less than 5 hours.
This is primarily because when I am at home I have my more
important job of being a mom to a toddler and a
pre-schooler.
If I can stay awake for much longer after they go to bed
and get the basics done around the house, I sometimes even
get the work I bring home done!
My stress level at the desk would be much lower if I
could bring home and accomplish much more.
However, when I was childless, I worked late, worked
weekends, brought work home.
The stress level was just as high, and the only thanks I
got for getting everything done was more work for being so
on top of things.
I bring home, on average, (a) less than 5 hours.
This is primarily because when I am at home I have my more
important job of being a mom to a toddler and a
pre-schooler.
If I can stay awake for much longer after they go to bed
and get the basics done around the house, I sometimes even
get the work I bring home done!
My stress level at the desk would be much lower if I
could bring home and accomplish much more.
However, when I was childless, I worked late, worked
weekends, brought work home.
The stress level was just as high, and the only thanks I
got for getting everything done was more work for being so
on top of things.
I don't bring anything home because I can't stand the
physical intrusion of having work things in my house, but
way too often I am here well past 6 and 7 pm to finish
things.
As soon as one project is complete the owners pile on
another, I'm closer to leaving myself all the time.
I always think I am one good hire away from fixing the
staffing problems.
As soon as one mediocre employee leaves one of my good ones
sees the slacker position as open and steps right up to the
challenge.
Usually I'd have to say 10 hours extra per week.
Busy seasons like audits, budgets & contract review
easily 20+.
A constant diet of it leads to a lot of complaining and
longing to be anywhere else.
I realize much of the problem is me because the parking lot
is clear, even of owners when I leave and all those "other
jobs" are secure, I just can't seem to shake the mode.
I'd be willing to bet the majority in the perpetual
overtime mode are there because of self-imposed restraints
rather than employer demands.
It doesn't help to get photos e-mailed weekly from my
thirty something retired dot.com cousin from his new house
on a Florida coast island weekly.
I don't resent him at all, but envious is a very fair word
to use.
I am a former world-class swimmer and have offered to be
his pool boy many times.
I believe if I were on the woman's team the gig would be
mine.
I don't normally take work home with me but, here's the
rub, I normally work about 11- 12 hour each workday, five
days a week.
I'm usually here from 7:00/7:30 in the morning and 7:00 to
8:00 at night.
Major issues or projects may create more time at home
working, and typically that's over the weekend and even
then most of the time I come in here to do the work rather
than try and do it at home.
Easier to concentrate and get it done.
Used to be (c) 10-20 hours....I was working all the
time, even while traveling, nights and weekends.
Since quitting that high prestige, high paying, highly
stressful position for a better quality of life, my answer
is now NONE!!!
When I leave work....I LEAVE WORK!!!
What a relief!!!
I'm in the 5-10 hour range if you don't count the time I
spend worrying.
Less than 5 hours.
In my younger days, when I was trying to establish my
career, I worked day and night.
Now that I am older and wiser, I have learned to delegate
and actually have a life outside the office.
In re: to take-home work, my answer is "A - less than 5
hours per week." My philosophy is that work will always be
there, patiently awaiting my attention, but that my
personal relationships will not.
My answer is (a) - less than 5 hours of work at home.
However, should I be counting the time I work here when I
should be at home??
Better go, I need to make sure all of these participants
receive their new Summary Plan Descriptions.
Maybe I can be home by bedtime....................
Answer (d) It IS as bad as a second job!
In this economy and competitive environment, my guess is
I'm not the only small business owner who works weekends to
be sure that next weeks payroll can be met!
c) 10-20 hours (not counting continuing Ed and
credentialing)
It used to be when I was a youngster, I would bring as
much as 5 - 10 hours a week of work home with me.
Now that I'm the ripe old age of 28, I simply refuse to
take work home.
My son was born two years ago and after that, home is for
family and work is for work.
So I bust my butt at work to get it all done (or at least
looking like it's all done to the boss).
If I have something that I can't finish, I leave it until
tomorrow and don't even look at what's on my desk until
yesterday's work is done.
My wife and my son are my life, work is not.
It took the birth of my boy to make me realize that.
And I want to spend as much time as I can each day with
both of them.
c) 10-20 hours
With the advances in inexpensive home network
technology, I can sit on the sofa at home next to the kids,
watch TV, and unfortunately, work on my laptop.
I spend so much time at work that I am lucky to eat
dinner and sleep while I am at home.
Of course, I do have network access at home just in case
something comes up while I'm eating or sleeping.
B - 5 to 10 hours.
But that is only because I spend 60 hours a week in the
office.
When I am really busy I feel like I am making less per hour
than a manager at McDonalds, but at least I don't have to
where a stupid hat as I review the items on our dollar
menu.
I now work out of a home office (same job, same
employer).
I used to put in 45-50 hours when commuting.
I now put in 50-60 hours a week, work on the weekends, have
taken calls as early as 6 AM and as late as 8 PM at times,
but the ability to balance home and work is FAR better.
I didn't think my school aged kids even noticed I was
working since I work before they get up in the morning,
while they are at school, and then after they go to bed
until I heard my 6-year old playing house one day and said
to her dolls "I'll be there in a minute; I'm on a
conference call."
b) 5 - 10 hours on average, but sometimes more and never
less We're being asked to do more and more with less and
less resources (money and people) and to come up with
innovative new ideas.
Amidst layoffs in other departments, taking work home is a
matter of survival of the fittest.
It used to be A and it has gradually worked its way up
to D! Salaried folks sure aren't paid for the amount of
hours they work!
I probably bring homework every night, but do more like
5 hr a week.
I want to ask people how often they bring it home and don't
do it, which I think is pretty common -- at least in my and
my husband's case, we're more likely to crunch on it in one
night and/or a weekend
(a) Less than 5 hours - I already work at maximum speed
and capacity during the day
or
(b) When I am studying for a CEBS exam, which I consider
to be part of work
I probably bring home 5 - 10 hours of work each week.
Generally, this is reading industry information or
responding to e-mails since I have access from home.
Also, since we have some 24 hours operations, I get
employee issue calls from supervisors.
Option A and almost none at that.
A major departure from past jobs and a great way to keep my
family happy.
Amazing how much fun it is to coach soccer!
Now ask how many TOTAL hours we are all working…
You didn't have a choice "don't ever leave work"
I am late with my response because I have been so
busy assembling all my budget materials to take home to
work on tonight!
My vote is a, in a typical week which we never have
here in HR, so what the heck just put me down for b!!!