Monday, January 7, 2019

What Boomers Value as Employee Benefits

According to AARP, employee benefits most valued by Boomers are  Health Insurance, Retirement Benefits Most Attractive to Boomer Workers

Boomer workers tend to place great importance on health insurance benefits and 401(k) matching contributions from their employers, according to a newly released Harris poll of 2,026 U.S. adults.

Gen Xers and younger adults also value these benefits but are somewhat more inclined than boomers to put a priority on paid time off and flexible work schedules, according to the poll, conducted for the American Institute of Certified Public Accountants (AICPA). 

The statistics in the article are interesting. For example, as far as what employee benefits are important: for the Boomers, 71% said health insurance and 67% said 401(k), 54% pensions while the millennials and Xers placed less importance on pensions, 16% and 34% respectively.  Millennials placed more importance on workplace flexibility compared to Boomers.  How long do the Boomers surveyed intend to continue working?  According to the article, 22% may retire within a year, 22% are considering cutting back on the amount they work and 13% are looking at a job change with only 14% likely to work more.

 

https://lawprofessors.typepad.com/elder_law/2019/01/what-boomers-value-as-employee-benefits.html

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