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April 14, 2011 at 08:00 PM
About 40% of finance executives at companies that offer defined benefit plans view having the plans as a competitive advantage, according to Prudential Financial Inc.
Prudential, Newark, N.J. (NYSE:PRU), has published that finding in a summary of results from a recent survey of 171 senior finances executives at U.S. companies that sponsor defined benefit plans with $250 million or more in assets.
About 53% of the survey participants said their senior management spends much more time on benefits decision-making now than in the past, and 48% said benefits matters are consuming more the finance staff’s time and attention.
But executives increasingly view benefits programs as a key employee retention tool, Prudential says.
