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More Fortune 100 companies offering 401(k)s to new hires

The number of Fortune 100 companies that now offer only DC plans to their new hires rose in 2012.

By Paula Aven Gladych | Updated on October 17, 2012

Seven in 10 large U.S. companies now offer only 401(k) retirement plans, instead of defined benefit pension plans, to their new salaried employees, according to new Towers Watson analysis.

In its research, Towers Watson found that 70 of the Fortune 100 companies only offer a defined contribution plan to new hires, compared with 67 companies at the end of last year and 63 companies at the end of 2010.

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