Archive
By Staff Report
Aug. 9, 2005
| Recent Watson Wyatt Worldwide research shows that the percentage of Fortune 1,000 firms freezing or terminating their defined-benefit plans has increased rapidly. In 2004, 11 percent, or 71 companies, froze or terminated their plans, up from 7 percent, or 45 companies in 2003. Nearly two-thirds of Fortune 1,000 companies sponsor a define-benefit plan. | |||||
| Defined-benefit sponsors | Sponsorship rate | Frozen or terminated plans | Rate of freezing or termination | Hybrid-plan sponsorship | |
| | |||||
| 2004 | 627 | 63% | 71 | 11% | 16% |
| | |||||
| 2003 | 633 | 63% | 45 | 7% | 18% |
| | |||||
| 2002 | 624 | 62% | 39 | 6% | 16% |
| | |||||
| 2001 | 638 | 64% | 34 | 5% | 16% |
| Source: Watson Wyatt Worldwide | |||||
Schedule, engage, and pay your staff in one system with Workforce.com.