America’s workers are delaying retirement, their human-resources executives said in a recent survey.
The poll, by human resources and compensation consultancy Towers Perrin, found that 59 percent of those surveyed said they believed employees were delaying retirement, while 43 percent said workers were increasing loans and hardship withdrawals from company retirement savings plans. Another 38 percent said they saw declining employee participation in defined-contribution plans.
Nearly half said they had closed or would soon close company plans to new participants, and another 10 percent were considering doing so.
However, only 8 percent of companies said they had suspended matching contributions - although 19 percent were considering it.
______
To read the rest of this article, subscribe to our digital or paper edition. For previous editions, contact us for details.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
