For plan sponsors that like to tinker with benefits packages, the pandemic provided a novel opportunity to review the goodies received by plan members. And tinker they did.
According to a survey of U.S. employers by the nonprofit Integrated Benefits Institute (IBI), 40% of respondents say they had revised the benefits package during the pandemic. About two-thirds say they considered employee preferences when the changes were made, and 80% say they solicited employee feedback after the new benefits were unveiled.
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