Declining Pension Benefits Leave Workers Uneasy: Study

2014-03-26T21:14:41-07:00March 26th, 2014|Categories: 401(k), Defined Benefit Plans|Tags: , , |

High unemployment, meager raises and cuts to retirement benefits have made the majority of workers feel insecure about their financial future, according to a new survey by Towers Watson. However, the economic recovery has made the highest percentage of people feel satisfied with their financial situation since 2009. As CFO Journal reported Tuesday, more companies are shifting away from defined benefit pension plans because of increasing costs. Xerox Corp. and WellPoint Inc., for example, have closed and frozen their defined [...]