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Member, Beacon International Group, Ltd.
The rate of pension plan freezes among the nation's largest companies is slowing, and companies with defined benefit plans intend to keep the plans open, according to two surveys.
The percentage of U.S. plan sponsors freezing their pension plans dropped from 7% in 2006 to 4% in 2007, according to a survey by Watson Wyatt Worldwide. The survey found that 25 companies froze or terminated pension plans this year.
Another study by Arlington, Va.-based Watson Wyatt showed that 59% of 300 organizations with plan assets of more than $100 million have decided formally to keep their plans open. The remaining 41% of companies did not indicate whether they have made a formal decision about their plans.
The studies are not publicly available.