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Multinationals Close the Door on DB Plans as Deficits Become Unmanageable
PwC Link to more items from this source
Feb. 17, 2014
"The death of defined benefit (DB) pension arrangements has become a global phenomenon with employers grappling with what to replace it with ... PwC surveyed 114 Fortune 500 global multinationals, which together employ 4.7 million people and have combined pension liabilities of $950 billion, and found that only 6% wish to perpetuate DB arrangements, where the employer underwrites the costs and risks of providing workers with guaranteed pension incomes. Nine in ten are actively deploying defined contribution (DC) as their predominant workplace retirement provision, with the commensurate transfer in cost and risk from employer to employees."

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