Retirement Benefits Survey

Despite the weak economy, most employers are not changing the way they manage their employee retirement benefits. The Society for Human Resource Management (SHRM) conducted a survey during the week of May 27 through June 03, 2003, in which HR professionals were asked, “What (if any) changes has your organization made to its retirement benefits package in the last year due to the economy?” Respondents answered with the following:

• 72 percent responded that they had made no change to retirement benefits,
• 12 percent responded “other” (various written responses),
• 5 percent responded not applicable (have not offered retirement benefits in the last year),
• 4.5 percent said they had reduced the match on employee contributions,
• 4 percent of respondents said they had increased the match on employee contributions,
• 3.5 percent of the respondents said their organizations are passing more fees on to employees,
• 2 percent of the respondents said they no longer match employee contributions, and
• 1 percent no longer offer retirement benefits.

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