(PRWEB) March 12, 2009
A new survey of U.S. employers by WorldatWork and the American Benefits Council will be released at a National Press Club Newsmaker press conference at 10 a.m. on Tuesday, March 17, in the Broadcast Operations Center, Suite 480, 529 14th St. NW, Washington, D.C.
Cara Welch, director of public policy for WorldatWork and Lynn Dudley, senior vice president, policy, for the American Benefits Council, will discuss the report and its implications for defined contribution plan reform.
The survey report titled, “Trends in 401(k) Plans,” compares 401(k) trends from 2002, 2003 and 2008 and finds that the financial crisis has not significantly discouraged 401(k) contributions or participation. Nevertheless, the impact of the shrinking economy and the reality of financial stress being felt by Americans can be seen in some employee behavior, such as the increase in hardship loans from retirement accounts.
About the Survey
This survey was conducted in December 2008 by WorldatWork, in collaboration with the American Benefits Council. More than 505 members participated in this survey during a two-week period, generating a 10-percent response rate. The study’s margin of error is +/– 3 percent.
The Total Rewards Association
WorldatWork is a not-for-profit human resources association focused on compensation, benefits, work-life and integrated total rewards to attract, motivate and retain a talented workforce. Founded in 1955, WorldatWork provides a network of more than 30,000 members and professionals in 75 countries with training, certification, research, conferences and community. It has offices in Washington, D.C. and Scottsdale, Arizona.
About American Benefits Council
The American Benefits Council is the national trade association for companies concerned about federal legislation and regulations affecting all aspects of the employee benefits system. The Council’s members represent the entire spectrum of the private employee benefits community and either sponsor directly or administer retirement and health plans covering more than 100 million Americans.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.
Marcia Rhodes (480-304-6885), PR Manager, WorldatWork
Jason Hammersla (202-621-1982), Director, Communications, American Benefits Council
Mark Schoeff Jr. (202-662-7218), chair, NPC Newsmakers Committee