Not your father's pension plan: the rise of 401K and other defined contribution plans
AbstractThe number of workers with a 401(k) plan grew from 7.1 million in 1983 to 38.9 million by 1993. The rapid diffusion of 401(k) and other portable defined contribution plans and the decline in defined benefit pensions represent a major change in pension structure. Old-style defined benefit pensions were designed to give a fixed income after retirement, but only for workers who stayed in a job for 20 or 30 years; workers who left early ended up with little or nothing. Resulting changes in portability, access to pension wealth, and riskiness are altering incentives for job tenure and worker mobility, retirement, and saving both before and after retirement.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Federal Reserve Bank of St. Louis in its journal Review.
Volume (Year): (2002)
Issue (Month): Jan. ()
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Leora Friedberg & Anthony Webb, 2003.
"Retirement and the Evolution of Pension Structure,"
NBER Working Papers
9999, National Bureau of Economic Research, Inc.
- Leora Friedberg & Michael T. Owyang, 2004.
"Explaining the evolution of pension structure and job tenure,"
2002-022, Federal Reserve Bank of St. Louis.
- Leora Friedberg & Michael Owyang, 2004. "Explaining the Evolution of Pension Structure and Job Tenure," NBER Working Papers 10714, National Bureau of Economic Research, Inc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna Xiao).
If references are entirely missing, you can add them using this form.