Employee Benefits Systems for Retirement

The Two Types of Employee Benefits Systems for Retirement

There are two types of employee benefits systems for retirement: (1) defined benefits plan and (2) defined contribution plan.

Decline of the American Pension

Both are becoming increasingly scarce with the greatest scarcity showing up in the defined benefits plan.

Find statistics on the decline of the employer pension in America and the special dilemma suffered by employees of small businesses. In short, only half of American workers had access to an employer-based retirement plan in 2009, according to Senator Jeff Bingaman.

According to Towers Watson, retirement benefits offered new employees fell nearly 20% between 1998 and 2008. Even more dramatic than the national average was a 33% plunge in the retail sector.

Of course, there are always the good ones in managing employee benefits systems. PLANSPONSOR Magazine and Prudential Retirement honor the best.

Topic: Employer Pension Plans

Subtopics: Introduction • Types of Employer Pension Plans • Decline in Participants • Decline in Value • The Best Plan Sponsors