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Primary Type of Defined-Benefit Formula

November 19, 2000
Related Topics: Benefit Design and Communication, Retirement/Pensions, Featured Article
From a Hewitt survey of 773 employers who were asked to indicate the criteria on which they based their defined-benefit plans:
% of Employers
Highest Average Pay72%
     5-year average55%
     3-year average15%
     other (e.g., 10-year average)2%
Career Average Pay9%
Cash balance16%
Pension equity3%
Other (e.g., fixed dollar only<1%

Source: Hewitt Associates, LLC

Workforce, November 2000,Vol. 79, No. 11, p. 76 -- Subscribenow!

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