the company is not the first to do it and likely not the l mo brennan takes a look at why more companies are move ng this direction. >> starting this 2023, ups will over 401(k) plans instead of pensions and contribute to those accounts beyond any employee's savings match. the move saves about 17% of ups' workforce, but speak to bigger trend in corporate america right now. ballooning pensi s had a nearly $10 billion pension deficit last year and according to mercer, the shortfall of all s&p's 1500 companies combined was nearly $400 why? low interest rates. tighter regulations and the the fact that many people are living longer. more employers are responding by freezing traditional retirement offerings and swifing to 401(k)s. says from 1998 to 2015, the percentage of new highers at foreign 500 companies offered traditional pensions fell from 60% down to 20 and b about 40% of employers had a frozen plan all together. among those that have done so, boeing, u.s. steel, kimberly clark and aig. what's more interesting, many like general motors, united technologies and sears and accenture, have