Retirement Benefits

2. Staffing Levels and Staff Stability accounts for 40% of the overall score for P4P. P4P will utilize the Department’s annual Nursing Facility Wage Survey, typically administered in October of each year. Two Components

A. Nursing Staffing Levels 20% Comparing staffing levels to facility census and applying a

standard PPD, P4P has established an acuity adjusted goal for each facility. A facility is then scored on it’s own staffing in comparison to their “adjusted goal”.

B. Nursing Staffing Stability 20% Stability” will be determined by reviewing the percent of

nursing employees > 2 years of employment with the facility.

7th annual MetLife Study of Employee Benefits states that in 2009 most particularly during this recession, the employees…

Have a heightened focus on benefits this year more than most.

EVEN if 100% employee paid

Have a change in attitude with a strong shift towards financial ownership and loyalty (significant increase from 2008)

40% of employees say that benefits play an important role in their decision about whether to remain with an employer or make a change.

46% of the employees are concerned that the economy will cause the employer to reduce it’s match on the 403b or 401k.

68% of employees feel unprepared to face critical financial situations if the principal earner can no longer work.

51% of employees desire financial planning advice in the workplace however only 14% of employers offer such assistance.

50% of employees have an interest in converting “retirement plan” lump sum into “income for life”. However only 27% of employers are working towards

this

Based upon the average worker, ages 31-40, their benefit ranking of “Benefit” prioritization is as follows for both Employee and Employer

Benefit Employee Employer

1. 401K 51% 19%

2. Personalized Benefit package 46% 1%

3. Retirement Planning Seminars 44% 1%

4. Benefit Advisors 43% 10%

5. ↑ variety of Voluntary Benefits 40% 17%