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LIMRA’s Workplace Benefits Distribution Trends study reveals the type of changes employers have made to manage costs and/or reduce the use of internal resources.

; Analysis of Pay Benchmarks Standard tests in Canada, which are intended to ensure that “female” and “male” jobs within a grade are paid similarly, suggest a way to prioritize jobs that should be reviewed: Each job within a grade is classified as female (>60% female), male (>60% male) or neutral, and all female jobs paid less (on average) than the lowest paid male job are reviewed ( Lockton 2021).

Until recently, the maximum guaranteed benefit for a participant aged 65 with 30 years of covered service was calculated: 30 years X 12 months = 360 months; 100% of the first $11 in the monthly benefit rate + 75% of the next $33 = $35.75; $35.75 X 360 = $12,870.

.; As new research shows that younger people are increasingly being diagnosed with certain types of cancer, health experts say the push to include screenings at younger ages in employers’ healthcare offerings can have multiple benefits.

Pre-retirees now expect their savings to last, on average, only 15 years after retirement, down from 19 years just four years ago, despite many expecting to spend 25 to 30 years in retirement.

Trend 2: Employees feel less connected than ever before.

The strike started July 2 when thousands of hotel workers walked off their jobs, demanding higher pay and better benefits in what their union called the largest strike in its history.

For example, Citibank posted salary ranges from $0 to $2 million but later explained this as a computer glitch ( Brady 2022).

This type of plan rewards high performers and encourages salespeople to sell as much as possible.