The Changing Landscape of Pensions in the United States
The pension landscape in the U.S. has changed dramatically over the past 25 years. Saving through personal retirement accounts has become the principal form of retirement saving. We document the transition from a defined benefit system to a personal account system and show the effect it has had on wealth at retirement. We summarize results from other research we have done to project the growth of retirement assets over the next three decades. Our projections suggest that the advent of personal account saving will increase wealth at retirement for future retirees across the lifetime earnings spectrum.
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- James Poterba & Joshua Rauh & Steven Venti & David Wise, 2007.
"Defined contribution plans, defined benefit plans, and the accumulation of retirement wealth,"
in: Trans-Atlantic Public Economics Seminar (TAPES), Public Policy and Retirement, pages 2062-2086
National Bureau of Economic Research, Inc.
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- James Poterba & Joshua Rauh & Steven Venti & David Wise, 2006. "Defined Contribution Plans, Defined Benefit Plans, and the Accumulation of Retirement Wealth," NBER Working Papers 12597, National Bureau of Economic Research, Inc.
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"Plan Design and 401(k) Savings Outcomes,"
National Tax Journal,
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- James Poterba & Steven Venti & David A. Wise, 2007.
"New Estimates of the Future Path of 401(k) Assets,"
NBER Working Papers
13083, National Bureau of Economic Research, Inc.
- James M. Poterba & Steven F. Venti & David A. Wise, 2001.
"The Transition to Personal Accounts and Increasing Retirement Wealth: Macro and Micro Evidence,"
NBER Working Papers
8610, National Bureau of Economic Research, Inc.
- James M. Poterba & Steven F. Venti, 2004. "The Transition to Personal Accounts and Increasing Retirement Wealth: Macro- and Microevidence," NBER Chapters, in: Perspectives on the Economics of Aging, pages 17-80 National Bureau of Economic Research, Inc.
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