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| Tekijä: | Poterba J. (et al.) |
| Otsikko: | Defined contribution plans, defined benefit plans, and the accumulation of retirement wealth |
| Lehti: | Journal of Public Economics
2007 : NOV, VOL. 91:10, p. 2062-2086 |
| Asiasana: | pension schemes pensions retirement simulation USA |
| Kieli: | eng |
| Tiivistelmä: | The private pension structure in the US consist currently of defined contributions (DC) and defined benefit (DB) plans. In the former plan accumulation of wealth depends on participant's contributions and on financial market returns, and in the latter accumulation is affected by participant's labor market experience and plan characteristics. Simulating the distribution of retirement wealth under representative DB and DC plans, this article seeks to analyse how asset returns, earning histories, and retirement plan parameters impact on the variation in retirement wealth outcomes. The simulation is made using data from Health and Retirement Study (HRS), and the findings show that average retirement wealth accruals under current DC plans exceed average accruals under private sector DB plans. |
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