News You Can Use: Workers fear losing retirement savings

Employees aren't immune to the news reports of millions of Americans losing trillions of dollars in collective retirement income, and the news that increasing numbers of organizations are freezing their retirement plans, suspending matching contributions or both is heightening anxiety about their futures.

A new survey by Workplace Options finds that 59% of employees are concerned that money from their pensions and 401(k)s won't be there when they need it.

Dean Debnam, Workplace Options CEO says the worry causes a vicious cycle, as layoffs beget financial worries that decrease job performance and put employees in the line of fire for layoffs. "This, coupled with financial worries, can spell disaster for a worker's emotional and physical wellbeing, as well as overall productivity."

Even if your company is suspended its matching contributions -- which I strongly advise against -- or otherwise making retirement plan cutbacks, be sure to communicate with employees in a way that doesn't send them into a tailspin. Click here to listen to our podcast with communications expert Dennis Ackley and read the accompanying article, “Softening the blow of bad benefits news,” in the February EBN.

Tip of the Day: Help your employees keep their new year's resolutions

Strike while the iron is hot, benefit managers! Now is the time when most people resolve to lose weight, quit smoking and generally get healthier, so now also is the perfect time to engage or re-engage your empoyees in a wellness program.

According to a survey from Workplace Options, 63% of respondents want their employer to offer wellness programs to help maintain a healthy lifestyle.

And although money may be tight, Chris Boyce, CEO of Virgin HealthMiles, a Massachusetts-based wellness program provider, says now is the right time to invest in wellness.

"Investing in wellness during a tight business quarter is necessary because [employers'] health care costs have not changed that much and they are looking for ways to reduce that costs," he told EBN. Click here to read the full article on maintaining wellness during a recession.