US Work-Related Retirement Benefits Improving

By Editorial 09 May, 2014

The United States's appeal as a place to work and retire has been backed by a recent survey, which found that more US-based employees are now satisfied with their company-sponsored retirement benefits than five years ago.

On the other hand, satisfaction with health care benefits, especially the cost of medical benefits, has declined, according to The Towers Watson Global Benefits Attitudes Survey.

The nationwide survey of 5,070 full-time employees found that two-thirds of respondents (67 percent) said they are satisfied with their employer-sponsored retirement plans, including defined benefit (DB) and 401(k) plans. This represents a jump of 13 percentage points since 2009, with much of the increase concentrated among younger employees and those with DB plans.

Conversely, the number of employees who are satisfied with their health care benefits has declined from 69 percent in 2007 to 59 percent in 2013. The downward trend is most pronounced among older workers and those in poor health. The survey cited rising costs as a key factor fueling the decline, with only 38 percent satisfied with costs they must pay (including premium and out-of-pocket expenses) in 2013 versus 53 percent in 2007.

Tags: Employees | Retirement | Health Care | United States | Services | Expats | Working Abroad | Work | Working Abroad | Working Abroad |


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