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4th Quarter 2001Executive Summaries
by Dallas L. Salisbury This article discusses the implications and effects, to date, of the 2000 election outcome on both Social Security and retirement policy. Although the post-ERISA trend of less paternalism and greater individual choice will likely continue, we cannot expect significant retirement policy or Social Security reform until one political party is clearly in control of the government or until Social Security faces an immediate financial shortfall. Return to Top
The authors provide an overview of the Medicare program in terms of how the current program operates, the current issues it faces that may shape possible options for reform, and the implications of these features and issues for employment-based health plans. Current issues include adoption of a premium support model, changes in the eligibility age for Medicare benefits, Medigap insurance, benefits covered and customer service. Return to Top
by Mark J. Warshawsky
by John Ameriks This paper presents updated estimates of Americans' financial preparedness for retirement, based on a planning software simulation algorithm and data from the 1998 Survey of Consumer Finances. Using the 1998 data, I find that for 44.5% of middle-income American households, the algorithm predicts that assets and planned saving are insufficient to fully fund retirement. This represents a decrease of 4.0 percentage points in the retirement saving "failure rate" when compared to estimates derived from 1995 data. Improvements occurred across all demographic groups examined; however, the greatest improvements were among the wealthiest and most highly educated members of the population. Return to Top
by Richard Ostuw Two recent court decisions in a retiree health care benefits age discrimination case are likely to bring changes to employer-sponsored retiree health care. After reviewing the cases and how the Equal Employment Opportunity Commission has responded to them, this article discusses employer implications. Although the court decisions add complexity to retiree health plan design, they also provide employers with the valuable opportunity to analyze the match between their retiree health plans and business needs. Return to Top
by Anna M. Rappaport Although Americans are redefining traditional retirement, there are still surprisingly few formal phased retirement programs targeted to older workers. As a result, employers' ability to protect their human capital, attract quality employees and remain competitive may be compromised. This article presents results from a recent study of employers, focuses on employment policy for older workers and identifies options employers can adopt in order to remain competitive in a changing workforce.
by Thomas J. Starr As employers struggle to find and prepare employees to compete in the knowledge economy, they face common challenges. This article discusses four approaches to managing the immense and complex learning function and agenda: baselining and benchmarking, new organization structures, strategic outsourcing and e-learning. These approaches bring a strategic perspective to the education function that ensures learning is contributing to the business goals of the organization and is being managed responsibly.
by Zvi Bodie, P. Brett Hammond and Olivia S. Mitchell Advances in medicine, rising living standards and other trends have changed the retirement risks people face, while new institutions and financial products have provided new tools for managing those risks. Based on the authors' new book, Innovations in Retirement Financing, this article discusses the risks and sources of old-age economic insecurity, as well as the developments, approaches and products that affect how those retirement risks and insecurities can be managed.
by Barry Barnett and June Smith Bryant Pressure placed on employers to enhance the bottom line comes from a multitude of changes in the marketplace and has resulted in employers seeking to limit their liabilities and expenses for retiree medical care. To address retiree medical issues, employers have adapted a number of strategies that are presented in this article. These include eliminating or modifying benefits, using a defined contribution approach, capping subsidies and enrolling retirees in Medicare HMOs. Return to TopFull text copies of these articles are available through the INFOSOURCE™ Document Delivery Service. Article reprints are also available in quantities of 100 or more. For information, call the Publications Department at (888) 33-IFEBP. You can order your subscription (reprints and back issues) online. Four issues for $100 (or $75 for CEBS registrants). |
