Employers Contributing Less to Retiree Pension and Health Care Plans
The value of employer contributions to retiree pension and health care plans fell to 6.9 percent of employee pay from 7.8 percent from 2002 through 2008, according to a new analysis of employers.
Comments 0 | Recommend 0
October 22, 2009
Employers Contributing Less to Retiree Pension and Health Care Plans
The value of employer contributions to retiree pension and health care
plans fell to 6.9 percent of employee pay from 7.8 percent from 2002 through
2008, according to an analysis of 183 employers by Watson Wyatt Worldwide.
According to the analysis, the value of total retirement benefits provided by
the 79 companies in the study’s sample that offered a defined-benefit plan
throughout the study period dipped to 8.6 percent of pay from 9.4 percent
between 2002 and 2008, mostly because of significant cuts in post-retirement
health benefits, according to Arlington, Virginia-based Watson Wyatt.
For the 61 companies in the sample that offered only a defined-contribution
plan during the period, the value of contributions rose to 5.6 percent of pay
from 5.3 percent, the analysis showed.
Guidelines: Comments that include profanity or personal attacks or other inappropriate comments or material will be removed
from the site. We will take steps to block users who violate any of our posting standards, terms of use or privacy policies
or any other policies governing this site. You are fully responsible for the content you post.
If you enjoy the content on the Workforce Management Web site and want to see more, try 3 issues of our print edition risk-free. If you wish to continue, you will receive one full year for just $79. That's over 59% off the cover price. If you decide Workforce Management is not for you, just write "Cancel" on the invoice, return it and owe nothing. The 3 issues are yours to keep with no further obligation to us. Sign up below.
Offer valid for new Workforce Management Subscribers only.
Canada subscribers - $129. All other Foreign - $199.
= Member Only
