There’s A Good Business Case For A Pension Renaissance
In a Forbes column, NIRS Executive Director Dan Doonan writes that the battle to bring back pensions for auto workers will have to fight another day. But maybe other companies with frozen pension plans will take a hard look at the evidence about the wisdom of offering pension plans. Certainly, a pension renaissance would benefit not just workers, but employers and the broader economy too.
Pensions Support a Stable, Experienced Public-Sector Workforce
Public pensions help government employers retain experienced career workers, reducing costly turnover and supporting the reliable delivery of essential public services, according to a report, Workforce Turnover and Retention in the Public Sector: Insights from Public Pension Plans. The research finds that while employee departures are concentrated in the first five years of service, retention is strong among workers who remain beyond that point.
80% of Americans Say U.S. Faces Retirement Crisis Amid Affordability Pressures and Debt
National polling research from the National Institute on Retirement Security finds that 80 percent of Americans believe the nation faces a retirement crisis, as rising costs, debt, and other affordability pressures make it harder to save. The survey also finds widespread caution about AI-generated financial advice and cryptocurrency in workplace retirement plans, while 85 percent say Washington should make retirement security a higher national priority.
