Employee Benefits

Are the new pension plans fair to all workers?

Introduction

The nation's “new economy,” fueled by dizzying advances in high technology, is proving a mixed bag for workers. On the plus side, it has ushered in a long period of unprecedented national prosperity. But at the same time that corporate coffers are brimming with profits, many employers are changing -- sometimes in mid-career -- the benefits they offer to lure and retain employees. Employers say the changes in traditional pension plans, health insurance and other non-salary “extras” are necessitated by broad shifts in work patterns and demographics, while critics charge they are discriminating against older workers and retirees. With health-care costs on the rise along with worries about Social Security's future, the changes in employee benefits are coming under closer scrutiny in Washington.

IBM sales manager ...

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