As more retirement benefits are provided throughdefined contribution (DC) plans, attention isneeded to focus on risk protection, specifically with long-termdisability.

However, many employers do not focus on how disability canthreaten retirement security for their employees – which isalarming because a period of disability usually means no newretirement savings, and may mean accumulated savings arewithdrawn and spent on immediate expenses.

Prior to the transition to DC plans, it was common fordisability to be addressed through a combination of disability benefits, disability provisionsembedded in defined benefit (DB) pension plans, waiver of premiumprovisions in life insurance plans, and at times, continuation ofmedical benefits to disabled employees.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Voluntary Benefits
Employer-Paid
Employee-Paid
Defined Contribution