Business News Digest

Survey: Many will waitto get Social Security
WASHINGTON -- America's oldest baby boomers are a year away from becoming eligible for Social Security retirement benefits, but many will wait longer to start collecting, according to a government survey released Wednesday. Many boomers also do not expect to rely as heavily on the program for income compared with current retirees, according to the national survey sponsored by the U.S. Department of the Treasury and Federal Reserve Banks. The poll found that just 16 percent of boomers who are not yet retired said they plan to start collecting Social Security at age 62. By contrast, 34 percent of current retirees opted to start collecting payments at 62. Only 16 percent of the baby boomers said all or most of their future income will come from Social Security.
Poll: Bosses spend moreon employee benefits
NEW YORK -- Employers are spending much more on employee benefits than they used to. A study released Wednesday by the nonprofit Employee Benefit Research Institute in Washington, D.C., found that of the 7 trillion employers spent on workers in 2005, 80.6 percent went to wages and salaries and 19.4 percent went to benefits. In 1960, wages and salaries accounted for about 92 percent of employer spending for total compensation, EBRI said.
Associated Press

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