 More than half of
eligible employees do
not participate in their 401(k) plans or do not contribute enough to receive the full company match, according to the Annual Hewitt Universal Benchmarks Study.
Employees who have seen more money deducted from their paychecks to pay for benefits are not alone. |
Major shifts in demographic and financial factors are causing many Canadian companies to consider a reduction in postretirement health care benefits. |
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Retirement plans in recent years have suffered from challenging financial market conditions, corporate scandals, pension shortfalls, and devastating bankruptcies.
The majority of companies currently providing retiree health benefits will take advantage of new government subsidies in 2006, the first year this benefit is available under the Medicare prescription drug legislation passed by the U.S. Congress in 2003.
Preoccupation with midterm elections this November will leave Congress with little time to pass major legislation in 2006.
Asia-Pacific's developing economies will continue to drive salaries significantly higher in 2006.
Top-performing companies in Europe not only demonstrate a higher degree of commitment to developing leaders at the business-unit level, but also provide high potentials with more exposure to the CEO and Board, according to Hewitt's 2005 Top Companies for Leaders in Europe survey.
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