TITLE

Mid-Sized Firms Report Sizable Pension Woes

PUB. DATE
July 2003
SOURCE
Financial Executive;Jul/Aug2003, Vol. 19 Issue 5, p13
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article reports that pension funding and accounting issues at mid-sized companies is becoming a serious problem according to a new survey by SEI Investments Inc. The firm recently surveyed senior finance executives at various companies in the U.S., Great Britain, Canada and the Netherlands, just over half of them public. A majority of the respondents confessed that their plans were under-funded and many of them are adjusting their corporate strategies as a result. The author reports that some of the most common problems involve companies having to divert money away from their business to fund plans while others have had to close defined-benefit plans and convert them to defined-contribution plans such as 401(k)s.
ACCESSION #
10161135

 

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