Talking Points
Where Employers Spend on ‘Wellness’
In today’s worrisome economy, just 32% of large companies prioritize investing in workers’ financial well-being—i.e., to a “high” or “very high” extent—vs. in programs to support five other types of wellness, says a new study.
| Very High | High | Moderate | Low | Not at All | Don’t Know | |
|---|---|---|---|---|---|---|
| Mental/Emotional health | 19% | 30% | 34% | 13% | 3% | 2% |
| Physical health | 16% | 28% | 34% | 15% | 5% | 2% |
| Career happiness | 7% | 25% | 37% | 26% | 3% | 2% |
| Social/Relational health | 9% | 20% | 39% | 22% | 8% | 2% |
| Community health | 11% | 23% | 34% | 26% | 4% | 3% |
| Financial health | 10% | 22% | 30% | 24% | 12% | 3% |
Source: Institute of Corporate Productivity (i4cp), “Employers Are Ignoring Workers’ Financial Worries”
Annuities Ascending
Total U.S. annuity sales increased 16% to $79.4 billion in the second quarter, according to LIMRA’s U.S. Individual Annuity Sales Survey. Fixed-rate deferred annuity and registered index-linked annuity sales reached an all-time high in the quarter, while fixed index annuity sales fell just short of a record quarter.
A Glide Path for All?
Several variables contribute to the best choice of glide path—e.g., industry, salary, planned retirement age, expected dependence on Social Security—and how much risk a worker could afford to take. Yet, says a new white paper, most plans employ one of just five popular glide paths, which “seems to indicate that plan sponsors may not be consistently considering the specific needs of their worker population when selecting a glide path.”
Accommodation and
food service
Agriculture, forestry,
fishing and hunting
$30,850
Mean wage
$37,210
Mean wage
66%
66%
47%
47%
3.4%
Working after age 65
18.7%
Working after age 65
Age 55
Age 65
Age 55
Age 65
Finance and
insurance
Health care and
social assistance
$81,420
Mean wage
$60,070
Mean wage
66%
66%
47%
47%
7.6%
Working after age 65
6.6%
Working after age 65
Age 55
Age 65
Age 55
Age 65
Information
Manufacturing
$91,930
Mean wage
$57,620
Mean wage
66%
67%
48%
47%
7.0%
Working after age 65
5.3%
Working after age 65
Age 55
Age 65
Age 55
Age 65
Accommodation and
food service
Agriculture, forestry,
fishing and hunting
$30,850
Mean wage
$37,210
Mean wage
66%
66%
47%
47%
3.4%
Working after
age 65
18.7%
Working after
age 65
Age 55
Age 65
Age 55
Age 65
Finance and
insurance
Health care and
social assistance
$81,420
Mean wage
$60,070
Mean wage
66%
66%
47%
47%
7.6%
Working after
age 65
6.6%
Working after
age 65
Age 55
Age 65
Age 55
Age 65
Information
Manufacturing
$91,930
Mean wage
$57,620
Mean wage
66%
67%
48%
47%
7.0%
Working after
age 65
5.3%
Working after
age 65
Age 55
Age 65
Age 55
Age 65
Accommodation and
food service
$30,850
Mean wage
66%
47%
3.4%
Working after age 65
Age 55
Age 65
Agriculture, forestry,
fishing and hunting
$37,210
Mean wage
66%
47%
18.7%
Working after age 65
Age 55
Age 65
Finance and
insurance
$81,420
Mean wage
66%
47%
7.6%
Working after age 65
Age 55
Age 65
Health care and
social assistance
$60,070
Mean wage
66%
47%
6.6%
Working after age 65
Age 55
Age 65
Information
$91,930
Mean wage
66%
48%
7.0%
Working after age 65
Age 55
Age 65
Manufacturing
$57,620
Mean wage
67%
47%
5.3%
Working after age 65
Age 55
Age 65
Accommodation and
food service
$30,850
Mean wage
66%
47%
3.4%
Working after age 65
Age 55
Age 65
Agriculture, forestry,
fishing and hunting
$37,210
Mean wage
66%
47%
18.7%
Working after age 65
Age 55
Age 65
Finance and
insurance
$81,420
Mean wage
66%
47%
7.6%
Working after age 65
Age 55
Age 65
Health care and
social assistance
$60,070
Mean wage
66%
47%
6.6%
Working after age 65
Age 55
Age 65
Information
$91,930
Mean wage
66%
48%
7.0%
Working after age 65
Age 55
Age 65
Manufacturing
$57,620
Mean wage
67%
47%
5.3%
Working after age 65
Age 55
Age 65
Sources: Bureau of Labor Statistics sector information for wages and percent working after the age of 65; Morningstar Center for Retirement & Policy Studies, “Right on Target”