Retirees get more pension adjustments
New York — Companies are increasing the pensions of their retirees more frequently, according to a study by Towers, Perrin, Forster & Crosby, management consultants. The study covering 95 major companies showed that 88 percent of the adjustments occurred since the beginning of 1979. The median period between increases was about two years. In a similar study by the consultants in 1979, the interval was about three years.
In 63 percent of the companies, the amount of the adjustment was keyed to the pensioner's year of retirement. Among the other forms of adjustment, about 9 percent were tied to the retiree's length of service and 7 percent to a flat percentage.