Employers are taking more of a responsibility in the defined-contribution plans offered to their workers, a report issued Tuesday by Vanguard found. The survey, "Global Trends in DB and DC Plans," found modern DC plans are adopting some elements of defined-benefit pension plans to help participants prepare for a more secure retirement.
"The modern DC plan reflects innovation that is driving an evolution in the traditional DC plan structure to provide many of the best elements of both a DB plan and a DC plan. As a result, we expect better retirement outcomes for participants," Steve Utkus, head of Vanguard's Center for Retirement Research, said in a statement.
The survey was conducted in July and August 2014 among 90 multinational companies. Respondents administered plans in at least three countries.
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