Actuaries who work with defined benefit and cash balance/hybrid plans are anticipating a surge in the latter.
That's according to a survey of hybrid plans by the ASPPA College of Pension Actuaries (ACOPA), which found that actuaries currently working with more than 15,000 plans anticipated 2,100 new cash balance plans, on a current base of some 5,600 such plans. Of the latter figure, 240 plans were cash balance conversions.
Those figures would appear to bear out results of another report, from Kravitz, which found that cash balance plan growth has beat industry projections by more than double.
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