Best Company Retirement Plans After Great Recession

Retirement plans have been hurt dramatically by the Great Recession. You may have found that your company cut retirement benefits as part of a recent cost saving strategy (that is if they didnÂ’t resort to layoffs).

In fact, nearly half of U.S. companies stopped contributing to employee retirement plans in 2008, and many have not resumed the practice. In fact, it seems that a retirement plan, which used to be a given, is starting to be a sought after perk of employment. Does your company offer a retirement plan? Has it changed in recent years?

Now that the economy is turning around employers are expected to begin bringing back retirement plans in the benefit package. In the past, many companies offered traditional pensions, but now 401(k) plans are becoming the main source of planning for retirement.

It appears as if these days the companies with the best retirement plans are those companies that actually offer some type of retirement benefit. Have you had to deal with cut retirement benefits just to keep your job through these past few years? If youÂ’re looking for a job, how much does retirement plans play into your decisions?

Comments: 2

John S. (arizona) Jan 17, 2011, 12:56pm UTC

Everybody should remember this, if your employer offers a retirement plan you don't contribute funds to, or have a contract for, the law considers it a "fringe benefit" they can cancel or modify at any time, regardless if they package it as some form of "total compensation" or how much time has passed.

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Jessica H Jan 17, 2011, 3:48pm UTC

Just curious when the government is going to better reflect the private sector by moving towards 401k retirement plans. Maybe the Republican controlled house will tackle compensation and benefit packages for those working in government to better balance the budget.

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Best Company Retirement Plans After Great Recession

Comments: 2

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