Shrm Poll Retirement09 Ee Ks

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  • 1. July 2009
    SHRM Poll – The U.S. Recession and Its Impact on Employee Retirement
  • 2. 2
    What, if any, action related to employee investments/retirement planning is your organization MOST LIKELY to take in the coming months in light of the current financial challenges to the U.S. economy?
    Note: Respondents who answered “Not applicable” were excluded from this analysis. Percentage s do not total 100% as multiple response options were allowed.
  • 3. In the past 12 months, has there been an increase, a decrease or no change in the number of employees…
    3
    n = 328-469
    The respondents who indicated increases in the number of employees planning to 1) extend their retirement date; 2) reduce their 401 (k) contribution; 3) suspend contribution to their 401 (k) attributed the increase to:
    • Fears about decline in financial security (e.g., dissatisfaction with 401(k) performance, diverting 401(k) funds/other funds to personal savings account).
    • 4. Decreases in household income.
    Note: Respondents who answered “Don't know” were excluded from this analysis. A dash (—) indicates that this particular option was not available in 2008
  • 5. 4
    Does your organization automatically enroll its employees into your organization’s defined contribution retirement savings plan (i.e., 401(k)), meaning that employees are placed into the plan unless they opt out?
    Source: 2009 Employee Benefits: A Survey Report by SHRM
  • 6. In your automatic enrollment plan, what is the default percentage of salary that is deferred?
    5
    NOTE: Percentage does not total 100% due to rounding. Only respondents whose organization automatically enrolled employees in defined contribution savings plan where included.
  • 7. Of the employees automatically enrolled in your defined contribution retirement savings plan, approximately what percentage have opted out or chosen not to participate?
    6
    NOTE: Percentage does not total 100% due to rounding. Only respondents whose organization automatically enrolled employees in defined contribution savings plan where included.
  • 8. 7
    Does your organization’s defined contribution retirement savings plan include a feature that automatically increases employees’ deferral rates (i.e., participant contribution rates are automatically increased each year)?
  • 9. Have you seen an increase in the number of employees opting out of your organization’s automatic employee deferral rate?
    8
    n = 307
    Note: Excludes respondents who answered “don’t know”..
    Organization staff size: small = 1-99 employees, medium = 100-499 employees, large = 500 or more employees
  • 10. Are employees at your organization more or less confident about the adequacy of their retirement savings now compared with six months ago?
    9
    n = 518
    Note: Excludes respondents who answered “Not sure.”
  • 11. In the past 12 months, has there been an increase, a decrease or no change in the number of employees at your organization getting more involved in the management of their retirement plan?
    10
    n = 518
    Note: Excludes respondents who answered “Not sure.”
  • 12. What do you see as the biggest threat to the retirement savings of employees at your organization?
    11
    n = 521
  • 13. How confident are you that your organization’s retirement savings option is meeting your employees’ retirement needs?
    12
    n = 514
    Note: Organization staff size: small = 1-99 employees, medium = 100-499 employees, large = 500 or more employees
  • 14. What percentage of the employees at your current location are in each generation?
    13
    n = 440
  • 15. 14
    n = 502
    Organization Staff Size
  • 16. 15
    Organization Sector
    n = 507
  • 17. SHRM Poll – The U.S. Recession and Its Impact on Employee Retirement
    Response rate = 12%
    Sample comprised of 563 randomly selected HR professionals from SHRM’s membership.
    Margin of error = +/- 5%.
    Survey fielded the week of July 6, 2009.
    16
    Methodology