Employees could be kept awake at night by any number of legitimate fears: job loss, declining home values, and ever increasing health costs. But retirement account losses topped workers' current list of significant woes.
A recent Mercer survey of 1,028 human resource and finance professionals found that 54 percent of respondents said that employees expressed a significant level of concern about the impact of economic turmoil on their retirement investments. Considerably fewer respondents said workers were worried about the health of the company (37 percent) or anxious about job security (34 percent).
The survey also found that 17 percent the human resources professionals surveyed say their company is considering reducing the level of employer contributions to 401(k) or similar retirement accounts.
As for traditional pensions, companies are considering changing investment strategy (46 percent), changing funding policies (31 percent), and cutting back or stopping accruals (24 percent).