A new study has found that large companies sharply accelerated freezes and terminations of pension plans last year, steering away from the increasing expense and uncertainty of paying for workers' retirement. About half of the companies that froze pension accruals or terminated plans last year are financially troubled businesses, the study found. The trend has continued into this year, with United Airlines defaulting on its pension plans. Some speculate that companies could abandon pensions all together in the future.
See "More Large Firms Freeze, End Pensions", Associated Press, Los Angeles Times, June 22, 2005