In the News

Boomers and younger workers don’t have much to celebrate in a new report on retirement plan trends among big employers. It shows that 80 percent of companies with more than 1,000 employees offer a defined benefit pension plan, but within five years, that will change. And not for the better.

About 41,000 former Verizon Communications employees are the latest group of retirees who will be getting their pension checks from an insurance company instead of their former employer.

The Pension Rights Center wants Congress to impose a moratorium on derisking moves by corporate defined benefit plans, including lump-sum buyouts and annuity contracts, while the impact on retirees is studied.

A consumer group says it plans to ask Congress to impose a moratorium on pension plan de-risking approaches to give lawmakers time to examine the implications of de-risking on plan participants.