Catherwood LibraryILR School

Workers are facing a new kind of paternalism from their employers when it comes to saving. Years ago, companies looked after workers by offering them straightforward guarantees. In exchange for long and loyal service and an orderly march toward retirement, workers got lifetime pension payments and medical care. These days, most of the financial burden and risk of health-care and retirement planning fall on workers, but employers embrace this new method of paternalism. Instead of promising lifetime benefits, they beg, bribe and sometimes even trick workers into taking better care of themselves.