Milliman organized an Opinion Survey at the 58th U.S. Annual Employee Benefits Conference in San Diego. Conference attendees were asked several questions regarding pensions and retirement; 459 surveys were completed.

The first question we asked was, Should Congress let the current pension law, the Pension Protection Act (PPA), sunset in 2014 or renew it? Over 41% of respondents think that PPA is working and that Congress should renew it, although 22% think that the old pension regulations were better.

 

We were also interested to learn if attendees thought that the new required fee disclosures made their defined contribution (DC) plan costs more transparent. Thirty percent of respondents are not certain that the new fee disclosure rules have made a difference. However, about 29% of survey participants answered, Yes, fees are clearly understood and fair.

When asked, Will the Affordable Care Act help your Health & Welfare Plan save money over time? 33% of respondents indicated healthcare reform would probably help their plan save money while 32% did not.

Finally, regarding the recent uptick in withdrawal liability inquiries, approximately 35% of participants attributed the increase to The Great Recession. However, 26% thought the rise in such inquiries were due to lower funding percentages.

If you have any questions about employee benefit plans, please contact a Milliman consultant.