pension plans disappearing

Nearly Half of Large Employers Shifting Retirement Saving Burden to Workers

Posted on 10/22/2012 by |Money and Work | Comments

Bulletin Today | Money & SavingsBoomers and younger workers don’t have much to celebrate in a new report on retirement plan trends among big employers. It shows that 80 percent of companies with more than 1,000 employees offer a defined benefit pension plan, but within five years, that will change. And not for the better. Thirty-five percent expect to continue to offer pension plans to existing employees but not new workers, 13 percent will likely freeze their plans and 10 percent say they’ll terminate their …