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Aon: Many Employers Are Freezing DB Pension Benefits

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NU Online News Service, Oct. 29, 2003, 3:52 p.m. EST – More than 20% of sponsors of defined benefit pension plans either have frozen plan benefits or are “actively considering” a plan freeze, according to the consulting arm of Aon Corp., Chicago.

When Aon consultants reviewed 1,000 client plans, they found that 13% of the sponsors have frozen benefits since Jan. 1, 2001. Two percent hope to freeze benefits by Dec. 31, and 6% are seriously considering the possibility of freezing benefits.