The differences between the employee retirement benefits offered by large companies and those offered by small and mid-size companies are shrinking rapidly.
A recent Watson Wyatt study found 55% of companies in the Fortune 100 only offer their employees defined contribution (DC) plans — 401(k), etc. — as opposed to traditional defined benefit (DB) plans — like closed or frozen pension plans.
That’s a big jump from having 46% of employers who only offered DC plans a couple of years ago — and it marks the first time that a majority of Fortune 100 companies are only offering DC plans.
The study also found that an increasing number of Fortune 100 employers are offering hybrid pension plans — account-based cash balance plans, etc. — instead of traditional DB plans.
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