Focus on . . . Employee Benefit Reform Proposals
Journal of Pension Benefits, Vol. 15, No. 1, p. 3, Autumn 2007
11 Pages Posted: 14 Jul 2009
Date Written: 2007
Employers provide numerous different benefits to their employees, the most important of which are retirement plans and health benefits. American employers (public and private) spent $628.4 billion on retirement benefits and $596.5 billion on health benefits in 2005. [Employee Benefit Research Institute, Dec. 2006.] Despite this enormous expenditure, there is increasing concern about the deficiencies of the current system, including the disappearance of defined benefit plans in the private sector; the inadequate retirement benefits that will be received by many (if not most) employees from defined contribution plans; and gaps in retirement and health plan coverage, particularly among low-income and part-time workers. This article discusses some of the many recent reform proposals, and focuses on a comprehensive proposal published by the ERISA Industry Committee (ERIC).
Keywords: retirement plans, health benefits
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