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Article Excerpt
Employees of U.S. health-care organizations are taking greater responsibility for saving for retirement, according to the third annual survey, Retirement Plan Trends in Today's Healthcare Market-2005, conducted by the American Hospital Association and Diversified Investment Advisors.
The median participation rates for both 403(19) and 401(k) plans each increased 5 percent over last year, the study found.
"A number of factors, including the gradual retreat of defined benefit plans and threats to the integrity of Social Security, for example, have caused employees to rethink how they are going to accomplish their retirement savings goals," said David Ray, a vice president and not-for-profit practice leader at Diversified. "These issues, coupled with improved investment returns, more relaxed age and service requirements, and substantial press about...
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