Trend: Employees cannot expect employers to cover health care and retirement expenses in the future.
IBD reports a move by Nissan to place more responsibilty for health care and retirement on the workers.
North American manufacturing plants of the Japanese automaker will stop offering comprehensive medical coverage for retirees. In a bid to cut costs, Nissan (NSANY) also is switching its pension plan from a defined benefit to a contribution plan, similar to a 401(k), for new hires. The health care move affects employees who turned 65 after Jan. 1.