- AARP - http://blog.aarp.org -
The Takeaway: Workers Would Trade Pay for Better Retirement Benefits
Posted By Elizabeth Nolan Brown On February 28, 2012 @ 9:34 am In Bulletin Today | 1 Comment
Since the economic crisis, employees have been paying much closer attention to their retirement readiness, and many are willing to look at new ways to balance their mix of pay and benefits,” says Kevin Wagner, a senior retirement consultant at Towers Watson.
The survey found that some of the most dramatic changes in attitudes toward risk, rewards and security trade-offs have been among younger employees and those with a defined benefit plan. Among DB plan participants younger than 40, the number willing to pay for a guaranteed retirement benefit jumped by nearly 70%, from 39% in 2009 to 66% in 2011.
But older workers-along with women, lower-paid workers and those with health issues-were most willing to relinquish control over retirement investments in exchange for more long-term stability. Meanwhile …
More older Americans hold college degrees: Educated boomers are swelling the senior population at rates faster than young adults earn diplomas. Currently, about 26 percent of Americans 60 and older have a bachelor’s degree, up from 13 percent in 1992-and now an all-time high.
According to the Associated Press, these educational gains among older Americans are fueled in part by all the aging college graduates who attended school in the 1950s, 1960s and 1970s following government expansions of the G.I. bill. But increased enrollment in adult continuing education programs has also bolstered the gains. Overall, the number of college graduates between 60 and 69-years-old jumped nearly 55 percent during the past five years. The number of 25 to 29-year-old college graduates rose just 20 percent in that time.
Tuesday quick hits:
Article printed from AARP: http://blog.aarp.org
URL to article: http://blog.aarp.org/2012/02/28/the-takeaway-workers-would-trade-pay-for-better-retirement-benefits/
Copyright © 2013 AARP. All rights reserved.