In 2012, the number of Fortune 100 companies offering new salaried employees only a defined contribution (DC) plan rose, as it has for many years. Today, less than a third of these companies offer any DB plan to newly hired salaried workers, and only 11 still offer a traditional DB plan to new hires.
Large employers have been reassessing their retirement offerings for some time now. Over the past decade, most have shifted from traditional DB plans to either account-based DB plans or DC plans. The shift is motivated by several factors, including employers’ desire to reduce overall retirement costs (perhaps due to higher compensation and benefit costs elsewhere, especially health care), perceptions that workers prefer more portable plans, market trends and the belief that such a shift reduces financial risk…
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Retirement Plan Types of Fortune 100 Companies in 2012
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