Employees seem to be much more interested in annuitized retirement benefits than their employers are.
Only 21% of employers say they are looking for products that will help employees convert retirement savings into income, but 50% of the employees say they want retirement income products.
Researchers at a unit of MetLife Inc., New York, have published that finding in a major employee benefits trends update. The researchers have based the update on results from interviews with U.S. employees and employers.
In August 2008, interviewers talked to 1,349 full-time employees ages 21 and older, at employers with a minimum of 2 employees. The interviewers then looked to see how the financial crisis would affect the answers by conducting 627 additional employee interviews in November 2008.
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Similarly, interviewers talked to 1,524 benefits decisionmakers at companies with at least 2 employees in August 2008, then polled 569 benefits decisionmakers in November 2008.
The retirement income results come from the August 2008 survey.