Retirement benefits expected to decrease over next decade
As companies reduce costs, health and retirement benefits for U.S. workers will decrease over the next decade, especially for retirees, according to an American Benefits Council report. The holds true regardless of wage increases, the report says.
The percentage of companies that offered retiree health benefits decreased to 11% in 2000 from 20% in 1997, according to the report. Fewer companies over the next 10 years will offer workers older than age 55 health benefit extras for retirement, the report also notes.
American Benefits Council lobbies lawmakers on behalf of Fortune 500 companies.