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.
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.