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Cash Balance Plans: What Do They Mean for Retirement Security?

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  • Johnson, Richard W.
  • Uccello, Cori E.

Abstract

The conversion of traditional defined benefit plans to cash balance plans is among the most controversial aspects of pension policy today. Because the controversy has focused on the treatment of older workers, however, the debate has generally ignored the long–term implications for retirement security. This article examines the potential impact of cash balance plans on workers who spend their entire careers in these plans, and focuses on the implications for mobile workers and for labor supply at older ages. The evidence suggests that cash balance plans can often provide more retirement security than traditional defined benefit plans or defined contribution plans.

Suggested Citation

  • Johnson, Richard W. & Uccello, Cori E., 2004. "Cash Balance Plans: What Do They Mean for Retirement Security?," National Tax Journal, National Tax Association;National Tax Journal, vol. 57(2), pages 315-328, June.
    • Handle: RePEc:ntj:journl:v:57:y:2004:i:2:p:315-28
    DOI: 10.17310/ntj.2004.2.09
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    References listed on IDEAS

    as
    1. Johnson, Richard W. & Steuerle, Eugene, 2004. "Promoting work at older ages: the role of hybrid pension plans in an aging population," Journal of Pension Economics and Finance, Cambridge University Press, vol. 3(3), pages 315-337, November.
    2. O. Ashenfelter & D. Card (ed.), 1999. "Handbook of Labor Economics," Handbook of Labor Economics, Elsevier, edition 1, volume 3, number 3.
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    Cited by:

    1. Richard W. Johnson, 2011. "Phased Retirement and Workplace Flexibility for Older Adults," The ANNALS of the American Academy of Political and Social Science, , vol. 638(1), pages 68-85, November.

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