article thumbnail

The big boom: The ABCs of preparing your company for the exodus of retiring baby boomers

Rehmann

is on the brink of an inevitable employment crisis: the Baby Boomer generation – comprising nearly 75 million Americans – has begun to retire in large numbers. In 2010, the percentage of retired baby boomers was 10 percent; that figure has nearly doubled today. Collect data on when key employees plan to retire.

article thumbnail

How do retirement benefits and participation compare by company size?

Guideline

After years of instability in the global economy and the reduced availability of pension plans , employees are becoming more focused on their financial situations after retiring. Research continues to show that retirement benefits are becoming more and more important to employees.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Delicate Art of Choosing Part-Time vs. Full-Time Workers

Homebase

Cons of full-time jobs Higher costs: Going full-time often means more benefits like health insurance and retirement plans, bumping up your overall labor costs. Largely speaking, you’re not required by law to give full-time employees benefits, which can include: Health insurance Retirement plans (e.g.,

article thumbnail

Prepare for Nurse Retirements and Shortage with Intelligent Workforce Planning

Visier

With baby boomers heading into retirement — by 2050 an estimated 88.5 But there is another retirement population that is perhaps even more worrying to them: nurses. This means that more than one million RN’s will reach retirement age within the next 10-15 years, leading to a drastic shortage of skilled, tenured nurses.

article thumbnail

How to balance paying off student loans while saving for retirement

Guideline

trillion as of June 2020, with student loan debt growing around 7% annually since 2010. For those paying off student debt, the idea of saving at the same time—be it for retirement, a down payment, a wedding, or an emergency fund—can seem impossible. You can still open up an individual retirement account like a Roth or traditional IRA.

article thumbnail

5 Surprising Statistics About the State of Employee Financial Wellness

Best Money Moves

63% of employees feel that economic uncertainty affects current and future workplace benefits and 401(k) retirement plans. Workers in the baby boomer generation are having to delay retirement due to the instability of the current economy. The percentage of employees that prioritized saving for retirement has dropped by ⅓.

article thumbnail

Is Disability Retirement ‘Honorable’ if Retiring Police Officer is Facing Termination?

HR Daily Advisor

After the internal investigation was completed and the notice of intent to impose discipline was sent, the officer’s lawyer tried to extend the deadline to respond to the notice so that the officer could complete an industrial disability retirement application for a recent back injury.