Nearly half of senior finance executives said that their companies are very or somewhat likely to freeze or terminate their defined benefit retirement plans in the next two years.
Two-thirds of executives said that they would like their defined contribution plans to more closely resemble DB plans through the addition of features such as guaranteed income during retirement.
"Finance executives are spending more time than ever on managing their companies' retirement benefit programs. Executives are focused on reducing benefit risks through a range of measures. The focus on risk management by senior finance executives is likely to help millions of plan participants achieve a more secure retirement."
- Bernard Winograd
Within the next two years...
27% of CFOs said they are likely to close their DB plans to new entrants
46% are very or somewhat likely to eliminate or suspend employer matches to DC plans
60% are very or somewhat likely to increase automatic enrollment and contribution escalation efforts within their DC plans
