Plan Freeze - 2013 EA Meeting

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DB Plans divided into three categories based on answer to freeze questions on most recent ... Hard Freeze – no participants are accruing any additional benefits.
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Slides depict only single-employer plans DB Plans divided into three categories based on answer to freeze questions on most recent premium filing received as of November 1, 2013 (e.g., 2012 filing for calendar year plans with more than 100 participants) Active participant count derived from Form 5500 data. Categories: ⁻ Hard Freeze – no participants are accruing any additional benefits ⁻ No Freeze – all participants are accruing benefits ⁻ Other – Plan is hard frozen for some, but not all, participants; service is frozen but pay is not; etc.

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Slides 2 – 9 and 11 relate solely to accrual freezes Slides 10 and 12 provide additional information re: whether plans that aren’t frozen are closed to new entrants 1

# of active participants – in millions

# of plans

15,236 65%

1.8 15%

Hard Freeze - no one accrues benefits

7,227 31%

1.7 14%

Other

1,044 4%

No Freeze active participants still accrue benefits

8.8 71%

Some of these plans are closed to new hires (see slide 9)

Source: See slide 1 2

% of plans by plan freeze status

100% 21%

28% 75%

38%

1%

10% 31%

19% 19%

4%

Hard Freeze

9%

50% 71%

53%

25%

60%

71%

65%

Other No Freeze

0% Small

Medium

Large

Jumbo

All plans

Plan size based on total participant count • • • •

Small: Medium: Large: Jumbo:

1-99 100 – 4,999 5,000 – 24,999 25,000 or more

Source: See slide 1 3

% of active participants by plan freeze status

100% 23% 75%

13%

62%

15% 15%

9% 14%

15% 14%

Hard Freeze

50% 3% 25%

64%

70%

77%

71%

35%

Other No Freeze

0% Small

Medium

Large

Jumbo

All plans

Plan size based on total participant count • • • •

Small: Medium: Large: Jumbo:

1-99 100 – 4,999 5,000 – 24,999 25,000 or more

Source: See slide 1 4

# of active participants – in millions

# of plans

3.5 28%

14,925 64%

Small Medium Large Jumbo

7,537 32% 251 1%

794 3%

2.9 24%

5.8 47%

0.1 1% Plan size based on total participant count • • • •

Small: Medium: Large: Jumbo:

1-99 100 – 4,999 5,000 – 24,999 25,000 or more

Source: See slide 1

5

6

5.7 0.5

5

0.8

4

3.4

3

3.0

0.5

0.7

0.5

1

1.9

Other 4.4

0.4

2

Hard Freeze

No Freeze

2.4

0.1 0 Small

Medium

Large

Jumbo

Plan size based on total participant count • • • •

Small: Medium: Large: Jumbo:

1-99 100 – 4,999 5,000 – 24,999 25,000 or more

Source: See slide 1

6

5,000 4,015

4,000

3,117

3,000

Hard Freeze

2,000 1,000 0

Other

1,672 1,177 209

851 392

No Freeze

733 93

Source: See slide 1

7

100% 25% % of active participants by plan freeze status

75%

11%

8% 5%

17%

10% 20%

15% 19%

16% 50%

25%

59%

72%

18% 16%

87% 70%

66%

66%

13% 10%

22% 13%

77%

65%

29% 10%

61%

Hard Freeze Other No Freeze

0%

Source: See slide 1 8

# of active participants – in millions

# of plans

1,246 5%

Hard Freeze

7,227 31% 13,990 60%

1.7 14%

Other

1.7 14%

No Accrual Freeze New hires still get in

1,044 4%

No Accrual Freeze Closed to new hires

1.8 14%

7.1 58%

Source: See slide 1

9

# of active participants - in millions

16 14 12

14.5 1.2 1.3

13.7

13.6

1.4 1.2

1.7

10

1.5

13.0 12.3 1.9 1.7

1.8

Hard Freeze

1.7

Other

8 6

No Freeze

12.0

11.1

10.4

4

9.4

8.8

2011

est 2012

2 0 2008

2009

2010

Source: See slide 1 10

# of active participants in single-employer plans - in millions

16 14 12

14.5 1.2 1.3 1.4

10

13.7

13.6

1.4 1.2 1.4

1.7 1.5 1.4

8 6

10.6

4

9.7

9.0

13.0 1.9 1.7 1.7

12.3

Plan Freeze Status

1.8

Hard Freeze

1.7

Other

1.7

7.7

7.1

2011

Est 2012

No Accrual Freeze Closed to New Hires No Accrual Freeze New Hires Still Get In

2 0 2008

2009

2010

Source: See slide 1 11