Fewer companies are offering retirement benefits these days – and for the ones that do, many are scaling back their plans.
“The old, traditionally-defined benefit-pension plan is pretty much gone,” said Milton Moskowitz, who’s been compiling an annual list of the “100 Best Companies to Work For” for more than 25 years. “Employees don’t seem to stay with companies a very long time. So companies don’t feel the need to offer the security to keep them there.”
But even in this era of cost-cutting, there are still some companies offering great retirement plans.
Moskowitz said a good standard to shoot for when considering a potential employer is a payout of at least 50 percent up to 6 percent of your pay -- that means, you contribute up to 6 percent of your pay and the company matches half of whatever you put in.
Of course, 100 percent is ideal – and there are some companies offering dollar-for-dollar matching – and some even offer free financial-services planning for employees.
To give you a leg up on your research, here are 10 Companies With the Best Retirement Plans.
By Cindy Perman
Posted 21 Sept 2010