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U.S. corporate pension plans saw their funded status slip in October, with the aggregate shortfall of plans operated by S&P 1500 companies growing by $26 billion, to $619 billion, HR consultancy Mercer estimates. The erosion in defined-benefit retirement plans’ funded status reflects both a 2% decline in equity markets last month and a decrease of 6 basis points in discount rates, which are used to calculate plan liabilities.
Many employees cite company stock as the reason they took a job, according to a Charles Schwab study.
The average annual healthcare spending for individuals with employer-sponsored plans reached an all-time high of $5,641 in 2017.
Older Americans today have less of a social circle than previous generations, leaving many to resort to private care or government-paid resources.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.
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