Pension plan assets took a beating last year, and companies that sponsor defined-benefit pension plans face the bill for that damage next year in the form of sharply higher plan contributions. But recent events on Capitol Hill suggest Congress may act to allow companies to postpone the reckoning. The numbers involved are immense. Watson Wyatt estimates that under current rules, U.S. companies are on the hook for $89 billion in pension contributions next year and $146.5 billion in 2011.
That compares with the $32.4 billion that companies contributed to their pension plans last year.
Organizations representing companies with pension plans are asking Congress to allow companies to pay over a longer time frame.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
