Whatever else last year’s pension law may have done, it didn’t save the defined-benefit pension plan. According to a new survey by Watson Wyatt,  only 58 of the Fortune 100 companies had such a pension plan last year, down from 63 in 2005 and 90 in 1998.

Watson Wyatt consultants do  see a glimmer of hope in so-called “hybrid” plans,  sometimes called cash-balance plans. These offer some of the security of traditional  pensions along with the portability of  401k-type plans. The number of such plans in the Fortune 100 actually dropped by one last year  (to 27 from 28) but Alan Glickstein of Watson Wyatt says they may be the wave of the future:

This year could be a turning point.  Companies are trying to understand the new landscape. But in the long run, the new rules will provide a more supportive environment that may encourage companies to keep their traditional plans or adopt hybrid plans.