As the funded status of corporate pension plans deteriorates, more companies are edging away from those obligations. A recent report from Towers Watson shows that the number of companies with a frozen pension plan is up 9.5% from last year's level.

Freezing a pension plan means the company continues to operate the plan but stops accruing benefits for workers.

The Towers Watson report shows that 208 Fortune 1000 companies currently have at least one frozen defined-benefit pension plan, up from 190 companies in 2009. In 2004, just 45 of the companies had a frozen plan.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 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.