The shift away from defined benefit to defined contribution may be accelerating.
Nearly 60 percent of companies questioned have either frozen accruals for all participants or closed their defined benefit plans to new entrants and many more are likely to do the same within the next two years, a survey of senior corporate financial executives by Prudential Financial Inc. and CFO Research Services has found.
The survey found many of those queried would like to enhance their defined contribution plans to improve operating flexibility and help employees better fund their retirements.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
