About 29% of U.S. and Canadian corporate pension plan executives surveyed by SEI Investments said they will consider closing, freezing or terminating their plans by the end of 2007.
The study polled 139 U.S. plan officials and 163 Canadian plan executives who are responsible for pension plans with assets ranging from US$40 million to more than US$3.5 billion. Of the U.S. plan officials, 61% said decisions regarding closing plans are directly related to the new pension reform law. The study indicated Canadian funds will also be indirectly affected by the U.S. law.
