by Rick Unser
How many of your retirement-age employees are just hanging around so they can receive benefits and collect paychecks, simply because they can’t afford to stop working? Dealing with an aging, financially unprepared workforce is a reality that should concern employers.
The percentage of people who expect to retire after age 65 has risen dramatically in the past two decades (see chart below). Health care costs for employees older than 65 are more than double that of employees age 45 to 55. And while the statistical rate of work-related accidents does not increase dramatically for employees over age 65, when incidents do occur they are more severe and cost more workdays.
So it’s in employers’ best interests to improve the retirement outcomes for their employees by creating a culture of retirement readiness. Here is a six-step plan:
1. Conduct a company retirement readiness assessment
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