New funding rules for pensions and increased scrutiny on retirement plan operations are prompting more companies to take steps to administer their plans within a risk framework in 2008, says a new study by Hewitt of 190 mid-sized to large U.S. employers.

Recent legislation and regulations are applying more pressure on employers to minimize risks and unnecessary costs associated with retirement plans, Hewitt notes.

Among those companies offering pension plans, about 63% say they are likely to perform funding and accounting projections, while 30% plan to perform an asset liability study.

The consulting firm also reports that 72% of companies that offer a defined benefit plan say they will make no changes to the plan in 2008, compared with just 41% last year. Only 3% say they are likely to close the plan, while 2% are likely to freeze the plan - down from 6% and 4%, respectively.

In addition, Hewitt found, 55% of companies offering a defined contribution plan intend to review their fund operations, including expenses and revenue sharing. Fiduciary responsibility is also a focus, with 35% of companies saying they are likely to review their 401(k) plan structure, or hire a third party to monitor options.

What's more, 56% of organizations still rank employees' taking accountability for retirement as a high priority this year, and half say they plan to focus on helping workers better understand their retirement benefits. Nearly 66% of respondents are likely to talk to their employees about diversification and fund usage.

Automated features are rising in popularity. Today, 44% of employers offer automatic enrollment to their workers, compared to 36% in 2007. More than one-fifth (22%) of companies currently enroll both existing and new employees in their 401(k) plans, up from 15% in 2007.

In addition, Hewitt found:

• 19% of employers currently offer a Roth 401(k), up from 12% in 2007.
• 22% currently offer managed accounts, up from 15% in 2007.
• 51% offer automatic rebalancing, up from 39% in 2007.
• 43% offer online third-party advisory services, and another 47% plan to offer them in 2008.