Tag: defined benefit plan

elderly man inserting credit card to ATM

The brief’s key findings are: Studies show that retirees have tended to draw down their financial wealth very slowly. But these retirees generally had defined benefit (DB) pension plans, which pay benefits for life. Hence, this slow drawdown pattern may not hold for new retirees, who rely on 401(k)s. Indeed, the analysis finds that households…

Senior woman doing finances at home

Abstract Past generations drew down their wealth slowly in retirement, leaving much of their savings untouched.  However, this pattern may not hold as the Baby Boomer generation retires, because they are less likely to have a defined benefit (DB) plan and will need to tap the assets in their defined contribution (DC) plans to support…