Tag: shift from defined benefit to defined contribution plans
The brief’s key findings are: Many believe that people are saving less for retirement due to the shift from defined benefit (DB) to defined contribution (DC) plans. The analysis uses National Income and Product Accounts data, with adjustments, to compare DB benefit accruals with DC contributions from 1984-2012. The results show that the percentage of…
The brief’s key findings are: With the shift from traditional pensions to 401(k) plans, the welfare of retirees depends increasingly on their ability to make sound financial decisions. Using a dataset that follows a group of older individuals in the Chicago area, the analysis examines how aging affects financial decision making. Participants who suffer cognitiv…
