Retirement and the Aging Workforce

Sponsored By Aon Consulting

Topics:

Employee Benefits & Human Capital > 401(k) , Defined Benefit

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Abstract:

• As the workforce ages, many employees have not saved or invested sufficiently to retire at their chosen time, resulting in workers who are on the job past the point at which they are effective.
• Many organizations face reputational risk if they become known for unfair or callous treatment of retiring employees, which in turn impacts the organizations’ ability to hire top talent in the future.
• More than 168,000 pension plans were terminated between 1975 and 2004, and the number of pension plans being frozen each year is rising.
• The manner in which employees save a pool of assets to use when they retire and the manner in which they draw those assets when they retire are the two key components that must be addressed in a retirement strategy.
• Companies must move to retirement programs that allow employees visibility into their accumulated funds and provide security as well.

DETAILS

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Released: March 11, 2008

Length: 5 pages

Format: PDF (216 kb)

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