Americans’ Retirement Benefits Have Been Slashed
Employer contributions to pensions, 401(k)s and retiree health-care benefits fell from 9.1 percent of worker pay in 2001 to 6.8 percent in 2015.
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Americans are more worried about retirement, and they're getting less help saving for it.
Employers cut their contributions to workers' retirements by a quarter from 2001 to 2015, according to a new report by the consulting firm Willis Towers Watson. The biggest driver: the decline of traditional defined-benefit pensions, replaced by stingier, 401(k)-style, defined-contribution plans.