U.S. employers are just starting to adjust to the aging of the work force.
Researchers at a unit of MetLife Inc., New York, have presented data supporting that conclusion in a study based on a September 2005 survey of 885 full-time employees, a September 2005 survey of 328 employees who work part time or are on maternity leave, and a September 2005 survey of 1,514 human resources and benefits executives at companies with at least 2 employees.
Although 58% of the baby boomers interviewed said they may work past the normal retirement age, only 21% of the employers surveyed have made any efforts to accommodate older workers, the researchers report.
Employees in the 51-60 age group contribute an average of only 10% of monthly household income to retirement savings vehicles, and 26% of the boomers surveyed are not making any contributions to retirement savings vehicles, the researchers report.
Meanwhile, although 46% of the employers surveyed now offer some kind of access to long term care insurance benefits, only 19% offer access to annuities.
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