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Healthcare Top Concern For Employers

Healthcare is the top concern for employers, but funding pensions is not far behind, says research by Prudential Financial in collaboration with CFO Research Services. ‘Balancing Costs, Risks, and Rewards: The Retirement and Employee Benefits Landscape in 2013’ found nearly 60 per cent of the companies have either frozen accruals for all participants or closed their defined benefit plans to new entrants and many more are likely to do so within two years. Many are also looking at transferring pension risk and enhancing defined contribution plans to improve operating flexibility and help employees better fund their retirements. Only six per cent of those surveyed said their companies have already transferred their defined benefit plan risk to a third-party insurer. However, approximately 40 per cent will consider doing so within the next two years.

Courtesy of Benefits and Pensions Monitor website News Alerts

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