Monday, December 1, 2014

Only 7 percent of employers offer new employees traditional pensions

Nearly a quarter of Fortune 500 companies still offer pensions to new hires - The Washington Post: "... Only 7 percent of employers studied offer new employees traditional pensions, which pay out a certain amount at retirement based on a worker’s pay and how long they stayed with a company. So where can you still get a job with a pension? The plans are more prevalent in some industries versus others. For instance, defined benefit plans are still offered by most large insurance and utility companies, according to Towers Watson. But the plans are nonexistent among aerospace, construction and tourism companies, which only offer defined contribution plans, such as a 401(k) plan...."


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