Thursday, January 23, 2014

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[IWS] EBRI: “The Cost of Spousal Health Coverage,” and “The Role of Social Security, Defined Benefits, and Private Retirement Accounts in the Face of the Retirement Crisis” [23 January 2014]

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

________________________________________________________________________

 

Employee Benefits Research Institute (EBRI)

 

EBRI NOTES, vol.35, no. 1

"The Cost of Spousal Health Coverage," and "The Role of Social Security, Defined Benefits, and Private Retirement Accounts in the Face of the Retirement Crisis" [23 January 2014]

http://www.ebri.org/publications/notes/index.cfm?fa=notesDisp&content_id=5338

or

http://www.ebri.org/pdf/notespdf/EBRI_Notes_01_Jan-14_SpslCvg-RetPlns.pdf

[full-text, 24 pages]

 

Press Release 23 January 2014

Spousal Coverage Shifts Could Have Unexpected Cost Consequences

http://www.ebri.org/pdf/PR1059.SpslCvg.23Jan14.pdf

 

WASHINGTON—Companies looking to save health costs by requiring working spouses to get health

insurance through their own employer find the move has some unexpected consequences, according to a

new study by the nonpartisan Employee Benefit Research Institute (EBRI).

 

The federal Patient Protection and Affordable Care Act (PPACA) requires that employers with 50 or

more workers provide health coverage to workers and dependent children until they reach age 26. It does

not, however, require employers to provide health coverage to spouses, whether or not they are eligible

for other health insurance.

 

The new EBRI analysis, which quantifies the cost of spousal health coverage, finds that spouses, on

average, cost more to cover than otherwise comparable policy holders—which makes them a target for

employers looking to control their health benefit costs.

 

AND MORE...

 

Press Release 22 January 2014

Can Social Security and 401(k) Savings Be "Enough"?

http://www.ebri.org/pdf/PR1058.RetAdqcy.22Jan14.pdf

 

WASHINGTON—Current levels of Social Security benefits, coupled with at least 30 years of 401(k)

savings eligibility, could provide most workers with an annual income of at least 60 percent of their

preretirement pay on an inflation-adjusted basis, according to a new analysis by the nonpartisan

Employee Benefit Research Institute (EBRI).

 

Specifically, assuming current Social Security benefits are not reduced, EBRI found that between 83 and

86 percent of workers with more than 30 years of eligibility in a voluntary enrollment 401(k) plan are

simulated to have sufficient 401(k) accumulations that, combined with Social Security retirement

benefits, will be able to replace at least 60 percent of their age-64 wages and salary on an inflationadjusted

basis.

 

AND MORE....

 

 

________________________________________________________________________

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.

 




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