Retirement Planning Witnesses Market Change
The days of the defined benefit (DB) retirement plan are so over. In 1998, DB plans, a cornerstone in union heavy industries such as manufacturing and energy, comprised 4.19% of employer payroll costs. Ten years later, that amount dropped to 1.99%. In addition to the rapid shrinking of DB retirement plans, employers have made significant cuts to this benefit overall. Between 1998 and 2008, retirement benefits dropped 19%.







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