Data & Research October 27, 2010

MetLife Finds Younger Employees Concerned about Income Protection

MetLife said its 8th Annual Employee Benefits Trends Study approximately one out of two Gen Y employees does not feel very confident about their ability to make the right financial decisions for their families.
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The study found that about seven out of ten Gen Y employees are very concerned about having enough money to pay bills during a period of sudden income loss. Of those Gen Y employees that say they have disability income insurance coverage, one-third (35%) are unsure how much of their income is protected.  

In addition, about half of Gen Y employees are very concerned about the financial impact of their premature death on their families. Despite being younger than their co-workers this concern level is approximately the same, MetLife said. 

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Products October 27, 2010

Web site Offers NQDC Info

Participants in nonqualified deferred compensation (NQDC) plans have a new online education resource: the Web site myNQDC.com.
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myNQDC.com provides educational content and tools for nonqualified deferred compensation plan participants, NQDC plan sponsors, advisers, attorneys, plan providers, administrators; basically “anyone who has to deal with these plans and wants to understand them better,” said Editor-in-Chief Bruce Brumberg.

The Web site, which went live last week, was launched by myStockPlan.com, publisher of myStockOptions.com, a similar site dealing with equity compensation and follows much of the same model, noted Brumberg.

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Topics on the site range from core concepts about plan design, to tax reporting and legal issues, to advanced financial-planning strategies.  These topics are covered in articles, FAQs, glossary, podcasts, and interactive quizzes. The content is both developed in house and taken from outside contributors.

Individuals have two options for membership: a basic membership, which is free but offers limited access to the site, and premium membership, which offers full access to the site for $195 for one year or $295 for two years (as a promotion associated with the launch of the site, basic members will have full, or premium, access to the site until November 22).

The Web site also licenses its educational content to companies and NQDC plan providers for their Web sites.

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