Organizations Encourage Retirement Planning, and Elder Care Benefits Experience Rise, SHRM Survey Finds

Jul 13, 2016
With a high number of employers encouraging retirement planning, employees are more likely to develop a financially sound retirement plan. Ninety-four percent of organizations offered some type of retirement plan. Ninety percent offered traditional 401(k) or similar defined contribution retirement plan; however, now employers are offering the option non-traditional plans, such as Roth 401(k). 

In June 2016, the Society for Human Resource Management (SHRM) released the results of its 2016 Employee Benefits Survey, which includes data comparing the workplace benefits offered in 1996 to 
today. SHRM research shows that retirement planning benefits are allowing for more variation with 51 percent offering Roth 401(k) retirement plans while employers are allowing less flexibility in terms of contributions and withdrawals from retirement funding. 

However, there is a rise of elder care benefits being offered to employees. Elder care referral service doubled from 6 percent to 12 percent over the past year. Only 3 percent of organizations offered geriatric counseling, while 2 percent offered on-ramping programs for family members dealing with elder care issues, and 1 percent offered elder care assisted living assessments.

The survey polled 3,490 HR professionals from a randomly selected sample of SHRM’s membership. 

Retirement Benefit Highlights
• Seventy-four percent of organizations provided an employer match on some or all of the employees’ contributions for traditional 401(k) or similar retirement plans. Seventy percent of organizations offered catch-up contributions, a decrease from 75 percent in 2015.
• Forty-five percent offer advice specific to retirement preparation, an increase from 2011.
• Fourteen percent of organizations provide either a formal or informal phased retirement program, which allows for a reduced schedule and/or responsibilities prior to full retirement. Five percent of the organizations offer a formal program, a decrease from 2015. 

For more information or to schedule an interview, please contact Kelly Morrison at 703-535-6321 and or Vanessa Hill of SHRM Public Affairs at 703-535-6072 or 

About the Society for Human Resource Management
The Society for Human Resource Management (SHRM) is the world’s largest HR professional society, representing 285,000 members in more than 165 countries. For nearly seven decades, the Society has been the leading provider of resources serving the needs of HR professionals and advancing the practice of human resource management. SHRM has more than 575 affiliated chapters within the United States and subsidiary offices in China, India and United Arab Emirates. Visit us at and follow us on Twitter and Instagram @SHRMPress. 


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