BLR News

2/28/2005

If It's Good Enough for the Payroll Department...

Old Saybrook, CT – February 28, 2005 – President Bush’s proposal to let Americans privately invest part of their Social Security savings remains controversial in Congress and among the general public, but it appears to have solid support among those who oversee employee pay, based on the results of an online poll conducted by Compensation.BLR.com, a website for compensation professionals.

Asked, "Would you choose to divert some of your Social Security taxes to a private account if it is allowed?" 56 percent of the participants said yes. Thirty-three percent said no, while 11 percent said they weren’t sure.

The poll, conducted the week of February 7, drew 398 participants.

"Regardless of what happens to the Bush proposal, employers know that helping employees plan for retirement gets more complicated all the time," observed Compensation.BLR.com Managing Web Editor Kevin Flood. "Social Security alone won’t provide a comfortable retirement, and there’s an ever-growing array of additional savings programs available–401(k)s, IRA, Employee Stock Ownership Plans (ESOPs), annuities, and 403(b)s, to name a few."

That’s why Business and Legal Reports (BLR), the parent company of Compensation.BLR.com, has prepared a special report, "HR Manager’s Guide: Employee Retirement Options Simplified." The report helps employers anticipate and answer their employees’ questions about whatever options they have for retirement savings. It can be downloaded at: http://www.blr.com/82008500/PRS4.

About BLR
Old Saybrook, Conn.-based BLR produces plain-English compliance and training resources for HR, compensation, safety, and environmental managers. For more information and a free catalog, call 800-727-5257 or visit www.BLR.com.