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
http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=21857
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
http://www.watsonwyatt.com/news/press.asp?ID=21854
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]
AND MORE...
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
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
http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=21857
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
http://www.watsonwyatt.com/news/press.asp?ID=21854
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]
AND MORE...
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
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# posted by SBasefsky : 6:23 AM
