Understanding Employee Benefits Packages

Thinking Out of the Box: Let me start with my conclusion and then explain my logic. Given the recent increase in funded status for Public Pension plans, it is my humble opinion that public plans are over-allocated to public/private equity. The average pension plan has ~60% exposure to public/private equities. Public plans actuarial return requirement has fallen to ~6%, the rate required to fulfill their pension distributions, while yields have risen and private credit has become a more optimal solution. Let’s unpack/debate 3 key points: 1. If a pension plan has a 6% return requirement and Private Credit can deliver 11-12% consistently year-after-year, then why not flip the script, and have 50% in Private Credit, and 10% multi-asset public credit to meet liquidity requirements - not 60% allocation to equities. Private Credit has evolved, it’s a defined asset class (prior to 2010 it was not). Muscle memory dictates that equities is the way to tilt for success. 2. Shockingly, the S&P 500 has compounded only +5% IRR per annum since January 1, 2000, a much lower than most think since it has generated a 20%+ IRR in 2023/24. There has been only 2 other times in past 100 years when equities had back-to-back 20%+ annual returns. As we close in on the first 1/4 of this century, equities have delivered a mere 5% annually. Traditional PE (top-quartile) has done well, while growth/venture have under-performed PE, except for the top 10% of this cohort. While I remain constructive for equities, one can argue that equities are rich—see chart below, while the bigger point is that fixed income is a better match v. fixed liabilities. 3. Insurance companies are highly regulated by the NAIC/state commissioner who require insurers to invest in fixed income to match asset vs. liabilities. In recent years, insurance companies have begun to invest more heavily in private credit given the meaningful yield pick-up vs. public fixed income. Led by the brilliant minds at Athene, other insurers have adopted this model of leaning into private credit. Insurance companies can allocate ~15% to private credit, only limited by the capital requirement imposed by regulators. Pension plans do not have this constraint and have significantly greater flexibility. In contrast, insurance companies also have liabilities to fulfill, yet they have just ~5% equity market exposure (percent of assets held by general account). Given the volatility of equities vs. the higher-for-longer return profile for private credit, capital allocators may want to consider these 3 key points (above). Public pension funds have an amazing model, staffed by brilliant CIOs with their strong investment staff(s). Partnering with their consulting firms, plan sponsors have a chance to flip this model, increasing the allocation to private credit that may be a better match vs. their liabilities. Is it time to rebalance?

Just talked to a woman in HR who changed their bereavement policy recently. She recognized the way they actually show up is much different than what the policy says. So she changed it. From: a max of 5 days for the loss of a child to: 20 days, regardless of relationship. Policy calls out 'you decide who you love' like this: ...applies not only to biological family members but also to those with whom employees share significant emotional bonds, such as close friends or chosen family. Employees are not required to justify their relationship to the deceased beyond a general acknowledgment.... And non-consecutive. And flexible over 6 months. And available to all employees. CHANGE. 🔥

India has 150 million+ people above the age 60 and there is a massive opportunity to keep them healthy & fit. But everyone’s focused on Gen Z and no one’s building for their parents. It’s a hard business but a big one. We’ve invested in two companies. Here’s why it’s tough and how one should crack it. Understand the reality first. 1. Elders don’t think of “health” as proactive. They’re conditioned to wait until something breaks before acting. You’re selling a solution to a problem they don’t know they have yet. 2. The 65-year-old needs it but their 35-year-old child pays for it. You're not selling to the elder. You’re selling to their guilt-driven kids in Gurgaon or US. The buyer ≠ the user. 3. Trust is everything and you don’t have it. Indian elders trust: Their doctor, astrologer & their neighbour Not apps. Not tech bros. Not AI. You can't growth hack trust. You earn it slowly, locally. 4. They don’t want new habits. They’ve had the same breakfast for 40 years. You’re not selling a product. You’re undoing decades of routine. 5. Distribution is hyperlocal. Elders don’t click Insta ads. They talk to the uncle in their colony. You scale building by building not by user cohorts. Yes, 150M+ elders. But it’s not one market. It’s a thousand tiny tribes. Different languages, cultures, food habits, family structures, and tech comfort levels. If it were easy, Tata or Reliance would’ve done it already. But it’s wide open now. The one who combines tech + trust + real care will win. So how do you crack it? 1. Think first principles & not trends Don’t build a “senior fitness app.” Ask: Why did they stop moving? What gives them joy? You’re selling independence, not health. 2. Design for peace, not features. One-click help, One daily routine, One trusted face. Great elder products feel like human care not software. 3. Human-first, tech-enable. Don’t replace the daughter. Support her. Train 100 amazing elder coaches. Build tools to help them scale. 4. Don't focus on CAC. Here, it’s about trust per acquisition. You’re not selling toothpaste. You’re asking to be let into their daily life. Start offline. Build trust then tech. 5. You’re in the business of habit change & not selling an app or a pill. Get them to walk 15 minutes a day. Add protein to breakfast. Laugh more. Sleep better. Small wins compound. Don’t build for scale first. Build for consistency. Be in the business of habit change. 6. This isn’t a hackable D2C play. It’s a decade-long trust business. Build for one community. Get to know 100 elders by name. Solve deep, boring problems with elegance. Everyone’s chasing the next billion youth users. But the hidden opportunity lies in serving the first 150 million elders. The elder care market in India isn’t just underserved. It’s misunderstood and needs long-term play. Founders who crack this will build generational companies.

Chart of the Week (Bonus): 4 financial risks in retirement After years of saving for retirement, once you’re in retirement, your focus can shift to preserving and protecting the wealth you’ve built, along with using your savings to preserve and use assets for what you saved for. Four risks: 1️⃣ Sequence of returns risk - the risk that experiencing negative returns early in the retirement withdrawal process can seriously impact how long your retirement savings last. Plan for this risk: Maintain a short-term reserve of low-risk investments to tap to cover expenses, if needed, instead of tapping stocks in a down market. 2️⃣Longevity risk – the risk that you’ll outlive your retirement savings. Plan for this risk: Consider an income annuity that can help guarantee income payments for a set number of years, or for the rest of your life. 3️⃣ Inflation risk – the risk of lowing purchasing power of your savings over time. Plan for this risk: Stay invested in equities. While past performance does not guarantee future results, our research has shown that equities have historically been an effective defense against inflation. 4️⃣ Unexpected expense risk – the risk that large, unexpected expenses can throw your retirement plan off track. Plan for this risk: Maintain a healthy emergency fund. Retirees should have enough cash on hand to cover a year of spending, and an additional 2 to 4 years of spending saved in relatively liquid, stable investments like CDs or high-quality short-term bonds. A plan, ideally, addresses each. #wealthmanagement #retirementplanning

Enhanced Maternity Leave is not about ‘paying me to have a baby’ It’s about paying me to; 🚀 help me keep sight of my value within the organisation, regardless of my caring responsibilities 🏠 support me paying for life essentials such as my mortgage, bills and food. Aka. The things I need to be financially, physically and mentally stable and secure. 💪 return to the workforce healthy and happy and thus, productive and engaged. Statutory Maternity Pay (SMP) is £184.03 a week, LESS THAN HALF the weekly higher National Minimum Wage and less than a third of women’s average earnings. It doesn’t touch the sides. And the financial strain it places upon women matters! Maternity Action reported in 2023, that 73% of responders said they worried a lot about money while they were pregnant or on maternity leave; and 65% of responders said that money worries had affected their health or wellbeing while pregnant or on maternity leave. The money worries are real. And the impact on an expectant or new mother's health and wellbeing really matter. We need legislative change. (I'll link various campaigns you may be interested in if you agree) In the meantime, employers can support parents with enhanced maternity, paternity, shared parental leave or, ideally in my view, equalised gender neutral leave. Want support enhancing your policies? Drop me a DM - I can support you with a policy review and more! #workingfamilies #maternityleave #paternityleave Pictured: Me in my second pregnancy, at an event to try and make some much needed extra cash!

Wondering how to better support our aging population? Let’s dive into how AI can transform elder care, making independent living a reality for more seniors—including those close to us. ✅ Personalized Care Plans AI isn’t just a concept; it’s already making a difference. Take the example of CarePredict, a company that uses AI to track seniors' daily habits and health metrics. By analyzing patterns, AI can create personalized care plans that evolve with the individual’s needs. This means your loved ones can receive care that’s truly tailored to them, helping them maintain their independence longer. ✅ Remote Monitoring We’ve all worried about elderly family members living alone, but AI-powered tools like GrandPad are changing that. This tablet for seniors integrates with AI-driven health monitoring systems, keeping track of vital signs and daily activities. When something’s off, caregivers are instantly alerted, allowing for quick action. It’s a way to offer peace of mind while respecting their desire for independence. ✅ Virtual Companions Isolation is a major issue for many elderly people, but AI can provide more than just medical support. Companies like Elliq have developed AI-driven virtual companions that do everything from reminding seniors to take their medication to engaging them in conversation or guiding them through exercises. These virtual assistants don’t just support health; they also offer companionship, which is crucial for mental well-being. Here’s one example of how Harry Kloor and his team at BEOMNI leverage robotics to support our aging population. Link: https://lnkd.in/d27KBqH3   Benefits: ◾️ Promote Independent Living: AI enables seniors, like our own parents or grandparents, to stay in their homes longer, surrounded by familiarity. ◾️ Enhance Quality of Life: Personalized care and companionship ensure that they live not just longer but better lives. ◾️ Reduce Caregiver Burden: With AI taking on routine monitoring, caregivers can focus on providing emotional support and quality time with their loved ones. As I’ve seen with my own family, the integration of AI in elder care isn’t just about technology—it’s about giving our aging population the dignity and independence they deserve.

Another shocking headline below. Half of benefit managers know their wellness programs are failing. 🙄 Humans are a little more complicated than a program, portal or prize (or a benefit). In my opinion, there are two main directions employers can take to create the best opportunities for employees to be healthier and happier: 👉 Create the institutional infrastructure needed to support employees. 👉 Create a well-being culture that prompts the shared behaviors, beliefs and attitudes that align with health and well-being. What does this mean in practical terms? 1. Choose an organizational assessment tool that is evidenced-based. These tools provide a framework to approach the policies, leadership support, interpersonal strategies and yes, benefits, that support most employees' needs. Examples include: 👉 The Centers for Disease Control and Prevention Worksite Health Scorecard 👉 The American Heart Association's Well-Being Works Better Scorecard 👉 WELCOA (Wellness Council of America)'s Well Workplace Checklist [now sponsored by the International Foundation of Employee Benefit Plans (IFEBP)] 2. Create a Well-Being Culture. You can't buy this from a vendor and it's certainly not a point solution from a benefit company. You have to roll up your sleeves and build it yourselves. The good news is that you don't have to guess how to build this culture. There is a framework that addresses these six pillars: 👉 Leadership Engagement 👉 Peer Support 👉 Norms 👉 Social Climate 👉 Connection Points 👉 Shared Values The full recipe can be found in 📖 "A Cure for the Common Company". https://amzn.to/3bG1q1D Also not shocking... this is a marathon, not a sprint. Have a 3-5 year plan. #HumanResources #OccupationalHealth #EmployeeBenefits https://lnkd.in/eB_iZT_Y *** Hi, I'm Rich Safeer. I’ve been in the employee health and well-being space for 25 years and continue to learn how the intersection of our workplace, our jobs and the people at work impact our health and well-being. I’m a husband, dad, son and brother, manager, author, speaker and the chief medical director of employee health and well-being at Johns Hopkins Medicine. 📖 Trying to develop a new healthy habit? Try ‘A Cure for the Common Workday’, a journal designed to keep you on track. https://lnkd.in/ex5ywsc5 🎤 Keynotes, Workshops and Podcast Guest 💻 Already read the book and you want to learn more? Try the training program at https://lnkd.in/eeidfsrM 💙 Learn more at RichardSafeer.com Want to stay connected? 🔔 Ring the bell on my profile

Too often, work goes unnoticed. But people want to be seen. A recent statistic had me thinking: 37% of employees claim that increased personal recognition would significantly enhance their work output. This insight comes from an O.C. Tanner survey, which leveraged 1.7 million responses from employees across various industries and company sizes. Beyond just feeling nice, recognition emerges as the most impactful driver of motivation. It makes real-time feedback, personal appreciation, and meaningful rewards not just nice-to-haves — they're must-haves to fuel performance. Here are concrete ways you can supercharge your recognition efforts to resonate deeply with your team: (1) Spotlight Specifics: Highlight specific achievements. Hilton’s Recognition Calendar equips managers with daily actionable ideas that turn recognizing real accomplishments into a routine practice. (2) Quick Kudos: Swift praise is so important. Timeliness in recognition makes it feel authentic and maintains high motivation levels. (3) Tailored Cheers: Personalize your appreciation. Crowe's "Recognize Alert" system enhances recognition by transforming client praises into celebratory moments, encouraging recipients to pay it forward. (4) Genuine Thank-Yous: Don't underestimate the power of small gestures. Regular acknowledgments, whether through handwritten notes or intranet shout-outs, create a culture where appreciation is commonplace. You do it, others will do it too. (5) Big Picture Praises: Connect individual achievements to the company’s larger mission. Texas Health Resources celebrates personal milestones with personalized yearbooks that link each person’s contributions to the organization’s goals. Using these practices genuinely and consistently can make every team member feel truly valued and more connected to the collective mission. Each act of recognition builds a stronger, more engaged team, poised to meet challenges and drive success. #Recognition #Appreciation #FeelingValued #Workplace #Culture #Innovation #HumanResources #Leadership Source: https://lnkd.in/e8jUtHZH

Why are so many people struggling mentally, despite “having it all”? No, it’s not just burnout. It’s deeper. And it’s more common than we think. We’re living in an age where access, ambition, and achievement are at their peak, yet anxiety, emotional numbness, and relationship breakdowns are rising at alarming rates. What’s causing this silent mental health storm? -Lack of Emotional Literacy & Safe Spaces Most people were never taught how to feel, express, or regulate emotions. Especially in high-pressure environments, it’s about performance, not presence. -Digital Overwhelm + Emotional Isolation We're always online, yet rarely connected. Scroll fatigue, comparison traps, and "highlight reel" lives leave many feeling unworthy or invisible. -Workplace Pressure The hustle is glorified. The stress is minimized. And somewhere in between, people stop sleeping, eating right, or even checking in with themselves. -Unseen Trauma & unspoken Expectations Not all trauma is dramatic. Conditional acceptance, micro-aggressions, or toxic dynamics can deeply impact how we think, relate, and function, even in "normal" settings. Here’s a radical idea to what can be done! Every company, especially MNCs and fast-growing startups, should have a multidisciplinary wellness team. We’re talking about real integration, not token workshops.  * A psychologist to decode emotional patterns * A nutritionist to support gut-brain health * A mindfulness coach for nervous system regulation * Movement specialists focusing on ergonomics, posture-related mood issues, and sedentary burnout. * A functional medicine expert for root-cause healing * A workplace culture coach to encourage empathy, feedback, and openness Not just to fix problems, but to prevent them. Mental health isn’t just a personal issue, it’s a systemic one. Let’s move beyond generic EAPs (employee assistance program) and mental health days. Let’s build human-centered companies where people can actually thrive, not just survive. This change is overdue. #MentalHealthAwareness #WorkplaceWellness #FutureOfWork #EmotionalHealth #FunctionalMedicine #MindBodyConnection #HumanCenteredLeadership #CorporateCulture #PsychologicalSafety #PreventiveHealth #EmployeeWellbeing #BurnoutRecovery #HolisticHealth #WorkplaceInnovation #LifeBeyondBurnout #LinkedInThoughtLeader #InikaHealth

I work with Human Resources and caregiver employee resource groups, to support parents, often to update policies and practices. Leaders, if you can prioritize one thing to improve retention and morale, take a close look at how your org handles parental (and even unplanned) leaves. Paternity leaves are on the rise and what happens before, during and after parental leave for moms, often determines whether or not she stays in her role. The first year of a baby's life, is also a critical window to improve mental and physical health outcomes for moms, parents, and babies, so flexibility and support at work is crucial. I had the pleasure of speaking with Tara Weiss Bronstein about this for the The Wall Street Journal. She covers a lot of great options in the article (subscription required) and here are a couple of key takeaways. 1. Get creative about coverage while people are out. Yes, consider temporary hires or contractors, but internships for current employees provide invaluable experience and "returnship" programs are amazing to re-skill displaced workers. 2. Pre-game the return to work, not just the parental leave. Most new parents need to revisit their schedules and priorities during what is often a foggy-sleep-deprived haze post baby. The parent who gave birth, is also going through a physical and emotional recovery that may require ongoing medical care. 3. Take the lead as an organization. Absolutely get input from moms, dads and parents about their parental leave plans. But please don't leave it to them to choreograph the whole thing. Most people don't know what they'll need in advance or how the organization can best support them. #parentalleave #FMLA #employeeexperience #workingmothers #workingparents #familyfriendlypolicies #managertraining