Thursday, July 23, 2009

[IWS] Watson Wyatt: FORTUNE 1000 PENSION FREEZES CONTINUE IN 2009 [22 July 2009]

IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations
-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor
---------------------- Stuart Basefsky
New York, NY 10016
-------------------------------Director, IWS News Bureau

Watson Wyatt

For article that provides more depth and data, see
Pension Freezes Continue Among Fortune 1000 Companies in 2009

Press Release 22 July 2009
Pension Plan Freezes Continue at Steady Pace Among Fortune 1000 Companies, Watson Wyatt Analysis Finds
Separate Research Finds Freezes Do Not Increase Stock Price

WASHINGTON, D.C., July 22, 2009­The number of Fortune 1000 firms that have a frozen pension plan increased again this year as companies continue to look for ways to control their retirement benefit expenses, according to an annual analysis by Watson Wyatt, a leading global consulting firm. Meanwhile, a separate study by Watson Wyatt found that freezing a pension plan does not lead to a boost in a company's stock price.

The Watson Wyatt analysis found that 190 firms on the 2009 Fortune 1000 list have a frozen defined benefit (DB) pension plan, compared with 169 companies last year and only 45 six years ago. Overall, the rate of DB plan sponsorship in the Fortune 1000 decreased slightly to 61 percent in 2009 from 63 percent in 2004.

includes the following TABLE
[The number of DB plan sponsors with frozen plans has been increasing steadily since 2004]


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Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
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