Editorial Staff

Employee Benefit News and the Personal Financial Employee Education Foundation wish to help employers share benefit sponsorship information and core beliefs about financial education with a new survey and upcoming networking opportunities.

April 3, 2012 5:30 a.m. As I stagger to the Keurig, I notice the flashing words, "NOT READY." I emphatically agree with the machine and tell us both to suck it up. As I savor the first cup of coffee, I grab my iPhone and read those ever-so-important emails that happen between 10:00 p.m. and 5:30 a.m. I truly believe a lot of people suffer from insomnia. I also believe that people think about insurance as a last-ditch effort to combat it.

Continued economic uncertainty has led all workers to dip into their retirement savings, but minorities have been the hardest hit, according to a new study from Ariel Education Initiative (a nonprofit affiliate of Ariel Investments) and Aon Hewitt. Compared to their Asian and white counterparts, African-American and Hispanic employees are eroding their retirement savings at an alarming rate.

Today marks the eighth annual celebration that honors the important work benefits practitioners and professional advisers do on behalf of North America’s workforce.

Creating an adequate amount of income for individuals to live comfortably in retirement will require a combination of several income producing strategies, as well as knowing what constitutes realistic and "safe" withdrawal rates from retirement plans, according to a new issue brief by the Institutional Retirement Income Council.

Employers across America face unprecedented challenges in providing competitive employee benefits while still controlling costs. Public-sector employers face additional obstacles from revenue shortfalls and increased public scrutiny of government spending. Yet employers, both public and private, have access to many proven solutions that can help them control and even reduce costs while continuing to offer a strong benefits package. …

It’s not often that you hear the leader of a Fortune 100 company publicly acknowledge the imminent demise of his venerable, profitable business model.

A new Nationwide Financial study shows three-quarters (74%) of women small business owners expect their business to be negatively impacted in 2012 by the economy. Just one in five (22%) think the state of the economy will improve and one third (34%) expect their sales and revenue to decline.

A majority of human resource executives at U.S. hospitals and health care systems expect health care reform to hasten the transformation of the industry’s traditional business model, according to a new survey by Towers Watson. The survey also found that workforce issues, including shortages of primary care physicians, the need for a wider array of staff skills and new leadership models, will rise in importance as the industry grapples with this transformation.

A tighter partnership between corporate finance and human resource executives may be on the horizon as U.S. companies begin to address the implications of health care reform for their reward programs and talent management strategy, according to a new survey by Towers Watson and Forbes Insights. The survey finds that both groups of executives share an expectation of further increases to their health care and other reward budgets in the next few years although, surprisingly, neither sees any change in the mix or cost allocation for their overall reward programs

The Essential Health Benefits Coalition has backed recommendations made by the Institute of Medicine to the Department of Health and Human Services' on an essential health benefits package.

A vast majority of New York State’s small business owners are giving two thumbs up to health insurance exchanges as a viable way to provide health insurance to their employees, according to a statewide survey commissioned by HealthPass New York, a NYC-based commercial health insurance exchange. The survey also found that exchanges have the potential to change the health care marketplace in New York at a time when many small business owners are struggling to keep afloat.

The vast majority of small business owners (82%) support the concept behind a proposed new retirement plan that would provide their employees with a guaranteed monthly pension benefit for life after they stop working. And 69% say they would be interested in adopting such a retirement plan for their own businesses.

Nearly two-thirds (63.8%) of plan sponsors have changed the investment lineup in their 401(k) plan in the past year, up markedly from a mere 20% in 2008, according to the Profit Sharing/401(k) Council of America.

EBN's annual Benefits Barometer is a comprehensive and convenient benchmarking guide to everything from average annual premiums for health coverage to the number of investment options in 401(k) plans.

According to a LIMRA report released late last summer, "Voluntary Worksite Benefits: Penetration and Market Potential," almost one-third of all employers are considering offering new voluntary benefits to replace existing benefits that are paid entirely or in part by the employer.

An entrepreneur has launched a new employee benefits service promising companies access to a network of certified public accountants who will offer prepaid tax preparation and year-round tax advice to their employees.

As open enrollment season approaches, employees likely will see that they have more voluntary benefit options than in previous years, a survey by Colonial Life concludes. The insurer's poll of more than 750 HR managers and benefits administrators found that almost half (49%) expect to add voluntary benefits to their plans within the next year. Employers were asked about their employee benefits packages and benefits communication efforts.

I started reading September's EBA by picking the article on page 20, "What construction teaches us about wellness." This article compared building a wellness plan to building a house, and it got my mind running. What a great illustration - I kept thinking about that as I read the rest of the issue. This article made a great point that no two clients are alike, just as no two houses are alike, and our job is to learn the needs and build the best plan for our client.

Unum has partnered with United Concordia and will soon offer dental benefits.