A new survey of plan sponsors captures the benefits issues they’re most concerned about in this election year.
Not surprisingly, the tax-favored status of employer-provided retirement savings for workers was near the top of the list, cited by 91% of the roughly 500 plan sponsor respondents to the International Foundation of Employee Benefit Plans’ 2016 Election: Employee Benefits Issues survey report.
Not far behind was the tax-favored status of employer-provided retirement savings for employers, cited by 88%, both just ahead of the tax-favored status of employer-provided retirement savings for employers, cited by 88%, both just ahead of the tax-favored status of employer-provided health coverage for employers (87%).
A more distant concern, but one that made the list, was consolidation of different types of retirement savings vehicles (60%).
Other key benefits concerns cited were:
- More health care provider price transparency (96%)
- Small business health plans (a.k.a. association health plans) that allow small businesses and other groups to join together to offer benefits to their workers/members (85%)
- Increased access to mental health care (84%)
- Tax-favored status of employer-provided health coverage for workers (82%)
- Tax exclusions for child-care expenses (75%)
- Tax credits for businesses that hire apprentices (64%)
- Living wage/increased minimum wage (59%)
- Mandated paid family leave (54%)
Survey responses for the report were received from 486 HR and benefits professionals representing all sectors: public employers, corporate/single employers and multiemployer plans.
The surveyed organizations represent a wide base of U.S. employers from nearly 20 different industries and range in size from fewer than 50 to more than 10,000 employees. Respondents answered survey questions from the perspective of their role as a plan sponsor/fiduciary.
