Defined-benefit pension plans have suddenly gained new support, with employers, unions, and benefits experts now talking up the pension model—which once was seen by many as relic of the past. Although defined-contribution plans have become the standard retirement benefit offered by most employers, recent events suggest that some may be taking a new look at defined-benefit pensions.

Forbes magazine announced a recent IBM decision to return to defined-benefit plans with prominent picture of a dinosaur. The Wall Street Journal published an opinion piece with the headline: "Bring Back Corporate Pension Plans. Seriously." And Pensions and Investments asked: "Is renewed interest in DB plans real, or just a pipe dream?"

Perhaps more important, the demand for defined-benefit plans seems to have returned to major labor groups such as the United Auto Workers (UAW), which pushed hard to reinstate that model of pension plans for new workers with its latest contracts. That effort failed, but the UAW contracts do include increases in 401(k) contributions of the employees' defined-contribution retirement benefits, and it is likely that the union will revisit the question at some point in the future.