The country-wide shift from defined benefit plans to defined contribution plans is not resulting in less accumulation of retirement assets, according to a new paper from the Center for Retirement Research at Boston College.
That conclusion directly contradicts the retirement think tank’s long-standing thesis—that the nation has become less prepared for retirement as more workers have been moved into 401(k) plans.
The Center and its director, Alicia Munnell, have been producing data for years showing that the shift to 401(k) plans was resulting in less retirement savings. Munnell was the lead author of the most recent report.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
