Tuesday, October 31, 2006
Tweet[IWS] Mercer: RETIREMENT PLANS FALL--SAVINGS STRESS RISES [30 October 2006]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Mercer
As retirement lifestyle expectations fall, savings stress rises
United States
New York, 30 October 2006
http://www.mercerhr.com/pressrelease/details.jhtml/dynamic/idContent/1247510
Employees are scaling back their expectations and ambitions for life in retirement, as they recognize that they are not saving enough to support the lifestyle they envisioned. This is according to the latest version of the Mercer Workplace SurveyTM, a national study of employee attitudes and behaviors around their company sponsored benefits plans conducted annually by Mercer HR Services. In response, Mercer HR Services is launching the "Stress Less Retirement Program" to help 401(k) plan participants take immediate steps to get back on track to achieving their retirement goals.
This year's Mercer Workplace Survey indicates that 401(k) plan participants are becoming increasingly distracted from the process of saving for retirement. While still the number one savings objective overall, retirement is losing ground to other more immediate financial needs including paying down debt, funding a child's education, and saving for unexpected expenses. The survey shows "saving for retirement" and "just keeping up with my monthly expenses" are virtually tied as participants' biggest economic worry. Coupled with a less optimistic economic outlook that has taken hold among participants, two of three respondents now acknowledge they are not saving enough for retirement. Yet, by almost the same margin they believe they will have time to "catch up on my 401(k) contributions before I retire."
AND MUCH MORE...including CHARTS....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Mercer
As retirement lifestyle expectations fall, savings stress rises
United States
New York, 30 October 2006
http://www.mercerhr.com/pressrelease/details.jhtml/dynamic/idContent/1247510
Employees are scaling back their expectations and ambitions for life in retirement, as they recognize that they are not saving enough to support the lifestyle they envisioned. This is according to the latest version of the Mercer Workplace SurveyTM, a national study of employee attitudes and behaviors around their company sponsored benefits plans conducted annually by Mercer HR Services. In response, Mercer HR Services is launching the "Stress Less Retirement Program" to help 401(k) plan participants take immediate steps to get back on track to achieving their retirement goals.
This year's Mercer Workplace Survey indicates that 401(k) plan participants are becoming increasingly distracted from the process of saving for retirement. While still the number one savings objective overall, retirement is losing ground to other more immediate financial needs including paying down debt, funding a child's education, and saving for unexpected expenses. The survey shows "saving for retirement" and "just keeping up with my monthly expenses" are virtually tied as participants' biggest economic worry. Coupled with a less optimistic economic outlook that has taken hold among participants, two of three respondents now acknowledge they are not saving enough for retirement. Yet, by almost the same margin they believe they will have time to "catch up on my 401(k) contributions before I retire."
AND MUCH MORE...including CHARTS....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 8:53 AM
