Employer Strategies

Everyday services that help strike a better work-life balance have become an increasingly valuable part of the benefits package - even if employees are the ones who pick up the tab. But what is the best way to deliver this assistance to the workplace to ensure satisfaction and boost program utilization?

We know that HR directors, benefits managers and C-suite executives are horribly frustrated with employee benefits - not simply with the high cost of the medical, but perhaps most with their lack of control over the process.

You now have a strong advocate, retirement advisers. Read in the November issue of EBA as contributor Fred Barstein talks about the recent launch of the National Association of Plan Advisors, a sister organization of the ASPPA.

It's not surprising that the youngest generation of workers has saved the least toward retirement. But what is startling-and worrisome-is the fact that the savings rate for this group has fallen significantly in the past decade.

Nationwide Better Health, part of Nationwide Mutual Insurance Company, closed its doors Sept. 1 after five years in the wellness and productivity business. The company announced on May 25 that Nationwide would sell its productivity services to Sedgwick Claims Management Services Inc. and wind down disease management and wellness programs.

For executives and other high net worth individuals, an emerging voluntary benefit addition is survivorship life insurance - an area benefits professionals may want to explore when crafting executive benefits packages.

Predicting an employee's future success at a company has traditionally stumped experts, and relying on metrics, such as IQ level, only tells 25% of the story. What makes up the other 75%, according to Shawn Achor, Harvard researcher and positive psychology expert, is the belief that your behavior matters, a positive social support system, and whether you view a challenge as a stress or an impetus to improve.

At its peak in the early 1990s, there were over 2,000 recordkeepers serving retirement plans - today there are fewer than 60. In light of service-provider profit pressures from declining margins, sponsor fee sensitivity caused by litigation and Department of Labor's fee-disclosure regulations, finding the right plan vendor for the right price can be a challenge.

The Department of Labor has slightly delayed the deadlines on significant new affirmative obligations for fiduciaries of retirement plans subject to the Employee Retirement Income Security Act.

With consolidation in the big-plan consulting market over the past few years garnering all the headlines - Towers Perrin merging with Watson Wyatt in 2009 to form Towers Watson and Aon joining forces with Hewitt last year to create Aon Hewitt - it's easy to forget there are a slew of smaller consulting firms out there providing consistently high levels of service to thousands of small- to mid-sized organizations.