Tag: shift to defined contribution plans
The brief’s key findings are: Late Boomers have less retirement wealth than earlier cohorts, including surprisingly low 401(k) assets. To explain this drop, the analysis explored both changing demographics and labor market experiences. The results show that part of the drop is due to a decline in the share of Late Boomers who are White, married, and…
Or does their saving simple reflect the demise of defined benefit plans? The media sometimes jokingly refer to the Millennial Generation (born between 1979 and 1996) as “Generation Wait.” Indeed, this generation has delayed many of life’s keystone events: obtaining that first good job, getting married, having children, and purchasing a home. My colleagues and…
