The Financial Crisis and Private Defined Benefit Plans
Between October 9, 2007 and October 9, 2008, the value of equities in retirement plans dropped by about $4 trillion, with the decline divided equally between defined benefit and 401(k)/Individual Retirement Accounts (IRAs). The decline in the defined benefit arena was in turn divided equally between private sector plans and those sponsored by state and local governments. This brief explores what a loss of roughly $1 trillion of private sector defined benefit equities means for the individual participants and for the firms that sponsor those plans...
|Date of creation:||Nov 2008|
|Date of revision:||Nov 2008|
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- Alicia H. Munnell & Dan Muldoon, 2008. "Are Retirement Savings Too Exposed to Market Risk?," Issues in Brief ib2008-8-16, Center for Retirement Research, revised Oct 2008.
- Alicia H. Munnell & Mauricio Soto, 2007. "Why Are Companies Freezing Their Pensions?," Working Papers, Center for Retirement Research at Boston College wp2007-22, Center for Retirement Research, revised Dec 2007.
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