Johnson, Tom
October 1991
Risk Management (00355593);Oct91, Vol. 38 Issue 10, p18
Trade Publication
This sections presents news on employee fringe benefits in the U.S. as of October 1991. A growing number of employers are encouraging their employees to save for retirement by using 401(k) plans in addition to traditional pension plans, according to Hewitt Associates. In fact, 88% of employers offer both a defined contribution plan, a statistic which suggests that companies are not replacing their pension plans with 401(k) plans but offer these plans as yet another venue for accumulating retirement savings. Flexible benefit plans, which allow participants to select among a range of employee benefit options, are gaining in popularity and were found to be in use at approximately 40% of 1,375 employers surveyed for the Society for Human Resource Management by William M. Mercer Inc. One-size-fits-all benefit packages do not necessarily meet employee needs, so more and more employers are adding the element of choice. Managed care health plans could be just what the doctor ordered for corporate U.S., according to a survey by A. Foster Higgins & Co. Inc. Managed care plans, particularly health maintenance organizations, are saving employers money. The rapid growth of preferred provider organizations has slowed as employers turn to other managed care alternatives.


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