In the "New Benefit Platform for Life Security," the ERISA Industry Committee, a Washington-based nonprofit association of employee-benefit plans of major employers, proposes an alternative benefits structure that would complement -- not replace -- a current system that is unsatisfactory at providing "traditional life security."

Benefits, particularly healthcare, would be organized geographically and benefits administrators would assume the role of today's plan sponsors, according to the report -- with employers and individuals sharing the funding of benefits, according to the 62-page report.