Over three-quarters of employers who offer a pension plan are not reversing changes they made last year, or they haven't decided yet, according to a recent survey by Buck Consultants; 52 percent of employers who offer defined-contribution plans agreed.
Almost one-quarter of employers surveyed said they made changes to their defined-contribution plans, most notably, by reducing employer contributions.
The most common changes employers made to pension plans, according to the survey, was to freeze participants benefits and to close plans to new employees. More than 40 percent of employers said their pension plan's funded status lost over 20 percent of its value in the recession, according to the report.
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