The Transformation of the American Pension System: Was it Beneficial for Workers?

Authors

Edward N. Wolff, New York University

Publication Date

1-1-2011

DOI

10.17848/9780880993906

Abstract

The share of Americans with defined contribution pension plans now exceeds the share of those with defined benefit plans. Wolff refers to this as the "great transformation" and it leads him to examine recent evidence to see whether there are winners and losers resulting from this switch away from traditional pension plans.

Files

Contents

1. Introduction
2. Recent Trends in Household Wealth, 1983-2009: Robust Growth Followed by Collapse
3. Review of the Literature on Retirement Wealth and Retirement Adequacy
4. The Slowdown in Pension Wealth Growth in the 2000s
5. Stagnation of Retirement Wealth in the 2000s
6. Differences in Retirement Wealth by Demographic and Household Characteristics
7. Retirement Prospects
8. Conclusions and Policy Recommendations

Appendix A: Sources and Methods Used for the Survey of Consumer Finances Data

Appendix B: Estimation of Pension and Social Security Wealth

Appendix C: Augmented Wealth Including Employer Contributions to DC Plans and Net of Taxes

Appendix D: Extended Results on Retirement Adequacy

ISBN

9780880993807 (cloth) ; 9780880993791 (pbk.) ; 9780880993906 (ebook)

Subject Areas

LABOR MARKET ISSUES; Retirement and pensions