Employer-based retirement plans and individual retirement accounts continue to grow in importance as a source of retirement income for both public and private-sector retirees, according to new analysis by Craig Copeland of the Employee Benefit Research Institute.
In the public sector, defined benefit pensions continue to be the top type of retirement plan, although many are turning to defined contribution plans as well. In the private sector, DB plans have declined for many years, replaced by DC plans.
According to the Federal Reserve, there was $4.87 trillion in defined benefit plans in 2011. Defined contribution plans held $3.86 trillion and IRAs held $2.21 trillion.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
