The number of Fortune 100 companies offering new salaried employees a defined benefit plan continues to drop, according Towers Watson.
As of June 30, only 30 firms offered any kind of a defined benefit plan to new salaried employees, down from 33 a year earlier and 70 in 2002.
Of those 30 DB plans, 19 are hybrid plans and 11 are traditional defined benefit plans, according to the report, “Retirement Plan Types of Fortune 100 Companies in 2012.”
Of the Fortune 100 firms, 70 only had a defined contribution plan as of June 30, up from 67 the year before and 30 in 2002.
The report is from Towers Watson's website.