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Tag >> defined contribution plans
May 11

Employees more committed to 401(k) plans

Posted by Stephen Taub in Riskretirement planretirementdefined contribution plansCashCareers/Management401k

Stephen Taub

Employees are once again ramping up their commitment to their 401(k) plans.

Just 2.4 percent of Defined Contribution plan participants stopped contributing in 2010, compared with 3.4 percent of participants in 2009, according to the ICI's latest quarterly study.

Nov 05

Most workers could put more away in DC plans

Posted by Stephen Taub in defined contribution plansCareers/Management457403(b)401k

Stephen Taub

Most workers are not putting away as much money as they could for retirement.

According to a survey conducted by Dutch global financial giant ING, an astounding 87 percent said they could be saving more in their defined contribution plans--401(k), 403(b), or 457 plans.

Jul 23

Retirement plans shift focus

Posted by dbedell in risk managementRiskretirement benefitsPension Protection Actiondefined contribution plansdefined benefit plansCash


US companies have undergone a big shift in how they are structuring retirement benefits packages for new employees in order to reduce cost and risk, according to a study by consultancy Towers Watson.

The study, which encompassed 642 US companies and data from 1998 to 2008, analyzed changes to defined benefit (DB), defined contribution (DC), retiree medical and retiree life insurance plans. It showed that companies across a range of industries are shifting from defined benefit to defined contribution plans, and are reducing overall benefits to new salaried employees.

Jul 08

Speed bumps on the way to re-matched 401(k) pay-ins

Posted by Karen1 in safe harborhewitt AssociatesGrant Thorntondefined contribution plansCharles Schwab401k


According to recent surveys by Fidelity Investments, Grant Thornton and Hewitt Associates, many of the companies that eliminated matching contributions to their employees' 401(k) plans now are slowly reinstating them, as Steve Taub wrote about last week. In Grant Thornton's survey from February, for instance, 20 percent of companies that eliminated or cut their matches already had restored them, while another two-thirds were planning to do so.

Reinstating a 401(k) match is great news for employees. The not-so-good news for employers? Complying with the myriad rules that come into play can get complicated, notes John Lowell, a vice president with Aon Consulting. Unfortunately, compliance and doing good by employees are "not always on the same page," he notes. 

Jul 01

Half of companies restored 401 (k) match: Survey

Posted by Stephen Taub in Towers WatsonThe Pension Protection Act of 2006defined contribution plansdefined benefit planscompensation401k

Stephen Taub

It is another case of the glass being half empty or half full, depending upon where you sit.

Towers Watson points out that since the global financial crisis hit in September 2008, 18 percent of those who responded to its recent survey have either reduced or suspended the matching contributions to their 401(k) plans.

May 27

DB pensions continue march toward extinction

Posted by Stephen Taub in Towers Watsonretirement benefitspensionshybrid pension plansdefined contribution plansdefined benefit plansCash401k

Stephen Taub

The number of large companies offering traditional defined benefit (DB) pension plans continues to decline, as they steadily march toward extinction.

Towers Watson now counts just 17 of the Fortune 100 companies still offering DB plans, down from 20 in 2009 and exactly half the total of five years ago.

Feb 09

Companies restoring 401(k) match but still glum about retirement picture

Posted by Stephen Taub in retirementhewitt Associatesdefined contribution plansdefined benefit plansCareers/Management

Stephen Taub

Every day or so we get another nugget of data that suggests the economy is slowly, but erratically, recovering.

Today's kernel: 80 percent of companies that suspended or reduced their company match in their 401(k) plan in 2009 are planning to restore it in 2010, according to a new study from Hewitt Associates.

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