Posts Tagged "worker"

Teacher teaching a class

Smaller Pensions Don’t Spur More Saving

Most state and local governments provide their employees with traditional pensions, which are nice to have. But not all pensions are equally generous.

The monthly benefits vary from one place to the next, and some governments have cut costs by reducing pensions for their newest hires. Further, one in four public-sector workers aren’t currently covered by Social Security, because their employers never joined the system.

A logical back-up plan for these workers would be to contribute money to the supplemental savings plans that most public-sector employers provide. When the workers retire, they can add the money saved in their accounts – a 401(k), 401(a), 457 or 403(b) – to their pension benefits.

But researchers at the Center for Retirement Research (CRR) find that workers are only slightly more likely to participate in a savings plan if they work for government employers with less generous pensions – a criterion based on how much of the worker’s current income will be replaced by the pension after they retire.

This lackluster response may not be surprising. Workers can see what’s deducted from their paychecks every week but don’t necessarily understand how these deductions – combined with their employer’s contributions – will translate to a pension.

Public-sector workers are probably more aware of whether their employers are part of the Social Security system. But apparently workers don’t consider that either. …Learn More

Grocery Store worker

Disabilities and the Toll of Irregular Hours

Irregular hours, last-minute schedule changes, and rotating shifts are now a fixture of the work world.

This isn’t necessarily a bad thing. Gig economy workers often tout the appeal of having the freedom to set a schedule that suits their lifestyle. In reality, many workers with unpredictable schedules, notably in retail and in lower-paid and part-time jobs, do not determine when they work. Their schedules are set by their employers.

These jobs can be hard for anyone to juggle. Arranging childcare on an irregular schedule is a good example. But workers with disabilities face unique challenges, because they often need special arrangements, such as a caretaker to help them get ready for work or an accessible van to transport them.

This would suggest that it’s important to work for employers who give them predictable schedules. In fact, a new study of workers in their 20s and early 30s with disabilities found they more often have irregular schedules than the young adults who do not have disabilities.

Here are some of their specific findings. A larger share of the workers with disabilities told the U.S. Census their work hours varied, and their hours swung more widely from week to week than people without disabilities. Consistent with this, young adult workers with disabilities reported in a second survey – the National Longitudinal Survey of Youth – that they are less likely to have regular schedules.

They are also more likely to have jobs with rotating shifts – an employer might assign the 5 a.m.-1 p.m. shift one day and the 1 p.m.-9 p.m. shift the next. Further, rotating shifts have become more common in recent decades, the researchers found. …Learn More