Defined contribution briefs.(News)

Pensions & Investments, September, 2006

Survey: 14% of sponsors to drop DB MINNEAPOLIS - Fourteen percent of employers plan to replace their defined benefit pension plan with a defined contribution plan, 13% plan to freeze their defined benefit plan and 5% plan to terminate their defined benefit plan within the next 12 months, according to a Wells Fargo Institutional Trust Services survey.

One-third of the 450 employers surveyed offered a defined benefit plan to their employees, but that will likely decline, according to the survey. Of the 93% with 401(k) plans, one-quarter reported automatically enrolling workers in 401(k) plans, and 10% plan to add that feature in the next year. The survey was conducted in the second quarter. Final 403(b) rules delayed by IRS until 2008 WASHINGTON - The...

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