Employers are getting ready for benefits to cost more for anolder workforce. And while some arewilling to absorb the additional expense, others plan to letworkers foot the bill.
That’s according to a plan sponsor survey from the LIMRA SecureRetirement Institute, which said in a blog post that although 73percent of employers are steeling themselves for higher costsresulting from an older workforce, that doesn’t mean they’re alsopreparing to pay for it all.
In fact, while half have said they’d absorb the cost, another 41percent intend to pass it along to their employees. A third saidthat they’d consider cutting benefits, salary growth and their owncontribution to employee retirement plans to manage benefitexpenses.
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