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Defined Contribution Plans In The Public Sector: An Update

Author

Listed:
  • Alicia H. Munnell
  • Jean-Pierre Aubry
  • Mark Cafarelli

Abstract

The brief’s key findings are: Although the introduction of defined contribution plans by some states has received considerable press attention, activity to date has been modest. Moreover, most recent shifts involve either hybrid plans or cash balance plans, rather than stand-alone defined contribution plans. The changes appear driven by a desire to avoid future unfunded liabilities, to reduce investment and mortality risk, and to help short-tenure workers. Such changes transfer risk to participants but, if the new plans enhance the likelihood of responsible funding, they could also offer some increased security.

Suggested Citation

  • Alicia H. Munnell & Jean-Pierre Aubry & Mark Cafarelli, 2014. "Defined Contribution Plans In The Public Sector: An Update," State and Local Pension Plans Briefs ibslp37, Center for Retirement Research.
    • Handle: RePEc:crr:slpbrf:ibslp37
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    File URL: http://crr.bc.edu/briefs/defined-contribution-plans-in-the-public-sector-an-update/
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    Cited by:

    1. Luković Stevan & Marinković Srđan, 2019. "Comparative Analysis of Retirement Benefits in Private Pension Funds and Public Pension System," Economic Themes, Sciendo, vol. 57(2), pages 145-164, June.
    2. Laura D. Quinby, 2020. "Do Deferred Retirement Benefits Retain Government Employees?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 39(2), pages 469-509, March.
    3. Trang Hoang, 2022. "Fiscal competition and state pension reforms," Public Budgeting & Finance, Wiley Blackwell, vol. 42(3), pages 41-70, September.
    4. Divya Anantharaman & Feng Gao & Hariom Manchiraju, 2022. "Does social responsibility begin at home? The relation between firms’ pension policies and corporate social responsibility (CSR) activities," Review of Accounting Studies, Springer, vol. 27(1), pages 76-121, March.
    5. Ben Backes & Ben Backes & Dan Goldhaberb & Cyrus Grout & Cory Koedel & Shawn Ni & Michael Podgursky & P. Brett Xiang & Zeyu Xu, 2015. "Benefit or Burden? On the Intergenerational Inequity of Teacher Pension Plans," Working Papers 1517, Department of Economics, University of Missouri, revised Apr 2016.
    6. Courtney Coile, 2018. "Working Longer in the U.S.: Trends and Explanations," NBER Working Papers 24576, National Bureau of Economic Research, Inc.
    7. Courtney C. Coile, 2018. "Working Longer in the United States: Trends and Explanations," NBER Chapters, in: Social Security Programs and Retirement around the World: Working Longer, pages 299-324, National Bureau of Economic Research, Inc.

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