Innovative Firms and Pension Plans

摘要

This study looks at innovative, high-performance firms in the U.S. andinvestigates their pension policies, the structure of their pension plans, and the relationship of their policies to overall goals for high performance. It compares innovative firms with a control group to identify distinctive pension practices among the innovators. Findings show that firms identified as innovator firms are: (1) more likely to sponsor defined contribution (DC) plans than non-innovators, (2) more likely to have both defined contribution and defined benefit (DB) plans, and (3) more likely to have collectively-bargained DB plan than a non-collectively bargained plan. The major findings of the study is that innovator firms have more stable asset and employment growth.