Defined benefit to defined contribution retirement plans

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Reference no: EM13966877

What is the main reason that companies have been rapidly shifting from a defined benefit to defined contribution retirement plans? Defined contribution plans shift the investment risk to the employee instead of the employer bearing the risk. Defined contribution retirement plans are easier for HR managers to calculate, so there is less management time required. Defined benefit plans were seen by employees as a “poor man’s retirement plan.” Defined contribution plans let the employee know exactly what they will receive in retirement benefits. Defined contribution plans split the investment risk between the company and the employee—a “fair” agreement.

Reference no: EM13966877

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Defined benefit to defined contribution retirement plans : What is the main reason that companies have been rapidly shifting from a defined benefit to defined contribution retirement plans? Defined contribution plans shift the investment risk to the employee instead of the employer bearing the risk.

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