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- 60% of employees with less than 2 years of service with their employer who sponsors a DB plan said the retirement program was a key reason that they took that job, up from 27% a year earlier
- 72% said the retirement program is a reason they will stay with their employer up from 51% a year ago
- 4 of 5 workers at companies with DB plans said that they would like to stay with that company until they retire
- The percentage of workers under the age of 40 (working for companies with DB plans) who cited that as an important reason to work for their current employer jumped from 28% last year to 43% this year.
Is it time to consider putting in a new DB plan?
You can read Towers Watson's summary here: http://tinyurl.com/294d4nk
Does the first stat (60% now vs 27% last year) look suspicious? That is a huge change. I wonder if the method for soliciting that response changed. There may be and should be a trend to more appreciation of DB plans and that is the point here but I question the numbers.
ReplyDeleteFred, you would have to ask someone in the research group at TW to be sure, but I have a sneaking suspicion that companies that still have ongoing DB plans may be the ones who are doing more hiring. Also, doesn't it make sense that people who take jobs with companies with ongoing DB plans would be the ones who would be more likely to appreciate them? Who knows, nothing can be manipulated much more than the meaning of statistics.
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