BENEFITS DIGEST

Public-sector workers who cut back hours for caregiving likely do not know what it costs them at retirement, a new Pew study finds. A career worked at 20 hours a week produces roughly half the annual retirement income of a full-time career in a defined contribution plan, and the reductions run steeper still in defined benefit plans.

Illinois amended its Human Rights Act on August 7 to establish workplace protections for employees experiencing menopause-related conditions, effective January 1, 2027, and reaching employers with a single Illinois employee. Littler on the compliance build-out between now and the effective date.

Jackson Lewis on the same statute from the accommodation side: Illinois joins Rhode Island and Philadelphia in making menopause-related conditions a protected status, and employers should review handbooks, leave policies, and benefit designs before the January effective date.

The benefits-design case: menopause-related productivity loss costs U.S. employers an estimated $1.8 billion annually while only 18 percent treat it as a material benefits issue. The new state laws will force the gap onto agendas.

With the market projected to reach tens of billions of dollars by 2030 and a growing wave of state coverage mandates prompting employers to add menopause benefits, the opportunities are expanding fast, and so is the regulatory scrutiny.

Benefits that effectively support employee caregivers have a dramatic impact on their ability to remain healthy and productive at work.

Today's blog addresses the question: Could medical marijuana and psychedelics soon be covered under employee benefit plans? Recent executive orders could impact health plan strategy and design.

Employers can’t reliably address working caregivers’ needs through policies and employee benefits alone, said Wendi Safstrom, president of the SHRM Foundation.