PENSION CRISES SPUR COMPANIES TO CHANGE PLANS: Beset by increased costs, falling investment returns and pressure to limit future risk, more than half of the 125 companies participating in a Deloitte Consulting survey said that they are considering or already have made changes to their pension plans in the past year.
Two-thirds of survey respondents who made plan changes cited cost savings as the primary driver, with 63 percent also seeking to reduce cost volatility. Among those respondents that have changed their pension plans, 38 percent revealed that they had frozen their plan or moved it to a defined-contribution plan. Only 14 percent of respondents offering cash balance plans now intend to make changes to their retirement programs.
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