EBRIefings

Implications of Employee Tenure on Benefit Design

New Employee Benefit Research Institute research found that the median tenure of workers is less than 5 years, which has been the case going back nearly four decades. Furthermore, when the labor market has been the strongest, such as in 2022, tenure of workers has tended to be shorter as more individuals are changing jobs and starting new ones due to more opportunities from a tight labor market.

Webinar panelists will discuss recent research findings, which include:

• This overall trend masks a decrease in median tenure among men with an offsetting increase in median tenure among women. However, median tenures by gender have been moving together in recent years.
• The distribution of tenure levels among workers ages 20 or older had been moving toward longer tenures until recent years. In 2020 and 2022, the share of workers with the shortest tenure levels increased, while the share with the longest tenure levels also increased. Those with the middle tenure levels showed decreases.
• Furthermore, Black and Hispanic workers had shorter median tenures and were more likely to have shorter tenures and not the longest tenures.
• As result of workers having various jobs during their working career, retirement plan design can have a significant impact on the workers’ ultimate retirement benefits.
• In particular, the vesting schedules in retirement plans, as well as choices workers make at job changes, greatly affect these benefits.

This complimentary webinar will explore tenure results that indicate, historically, most workers have changed jobs during their working careers and all evidence suggests that they will continue to do so in the future. This persistence of job changing over working careers has several important implications — potentially reduced or no defined benefit plan payments due to vesting schedules, reduced defined contribution plan savings, lump-sum distributions that can occur at job change, and public policy issues such as lower retirement incomes of the elderly population.

Speakers:

• Craig Copeland, Wealth Benefits Research Director, EBRI
  
• Chantel Sheaks, V.P. Retirement Policy, U.S. Chamber of Commerce

Details:

• Date: Wednesday, March 22
• Time: 2–3 p.m. Eastern

Implications of Employee Tenure on Benefit Design

You are invited for a "healthy" discussion on the state of health savings accounts. In this complimentary webinar, attendees will learn about the latest insights gleaned from EBRI’s Health Savings Account Database and the views of policy experts and practitioners. 

This complimentary webinar will delve into the propensity of accountholders to take full advantage of HSA tax benefits, as well as the past, present, and potential future of HSAs.

Speakers:

• Jake Spiegel, Research Associate, Health and Wealth Benefits Research, EBRI
• Roy Ramthun, Founder & President, HSA Consulting Services
• Lindsay Barnard, Sr. Product Manager, Alegeus
• Brett Hammond, Research Leader, Capital Group, (Moderator)

Details:

• Date: Tuesday, April 25
  
• Time: 12–1 p.m. Eastern

If you are interested in sponsoring one of our webinars, please contact us at memberships@ebri.org.