The American Benefits Council believes it has the answer to saving employee pension plans.
According to its research, there are only 47,000 active pension plans today, compared to 175,000 decades ago. The American Benefits Council has unveiled a six-point plan to address the ongoing, accelerated decline in defined benefit pension plans.
"There are many reasons for the long-term decline, including funding and accounting volatility, competitive pressures, employee preferences, and workforce changes," Council President James Klein said. "Recently, the decline has markedly accelerated due to the unpredictability of additional costs."
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