"The companies I've run across and worked with are all looking for ways to be 'best in class' corporate citizens in this area, and are open to engaging in a dialogue about what they can do better, and what it takes to be leaders," said Marc Treviño, co-head of Sullivan & Cromwell's corporate governance practice.
15% of workers—most in the government sector—still have defined-benefit plans. But for job-seekers under 40, pensions should not carry as much weight as they did decades ago.
For both investment-grade and below-investment-grade public companies, debt refinancing and working capital improvements had great effect in 2020 and 2021.
