Employer Plans

Employer Plans
Employer Plans — Working Toward a More Financially-Secure Retirement


Working Toward a More Financially-Secure Retirement

According to the Employee Benefit Research Institute’s 2011 Retirement Confidence Survey, the percentage of workers who are not at all confident about having enough money for a comfortable retirement grew from 22 percent in 2010 to 27 percent in 2011. This decrease in confidence is most obvious among those who have not saved enough to meet their future retirement income needs.

Many employers offer some type of retirement plan benefit to help employees save for the future.

The primary source of retirement income for many U.S. workers will come from what they’ve saved through their employers’ retirement plans. Fortunately, many employers offer some type of retirement plan benefit to help employees save for the future.

There are many different types of employer plans, but they all fall within three main categories:

  • Employer-sponsored savings plans
  • Profit sharing plans, and
  • Pension plans

In this section, we’ll give you brief descriptions of employer-sponsored saving plans, such as 401(k) plans, 403(b) plans and 457 plans. You’ll learn about traditional and cash balance pension plans and how profit sharing plans are often used in combination with cash balance pension plans to spice up an employee benefits package. And we’ll explain the pros and cons of the many retirement plan options available to small businesses and self-employed individuals.

Plan with us

If you are an employer—large or small—there are many retirement products and services offered through ING U.S. that can provide you and your employees with flexible savings options. If you are an employee, gaining an understanding of the various types of retirement plans in the workplace may help you make better decisions about your benefits and savings options.