Showing 1 – 2 of 2 results.
Curated
Not Your Father's Pension Plan: The Rise of 401(k) and Other Defined Contribution Plans (ICPSR 1253)
Released/updated on: 2002-03-08
Geographic coverage: United States
The number of workers with a 401(k) plan grew from 7.1 million in 1983 to 38.9 million by 1993. The rapid diffusion of 401(k) and other portable defined contribution plans and the decline in defined benefit pensions represent a major change in pension structure. Old-style defined benefit pensions were designed to give a fixed income after retirement, but only for workers who stayed in a job for 20 or 30 years\; workers who left early ended up with little or nothing. Resulting changes in portability, access to pension wealth, and riskiness are altering incentives for job tenure and worker mobility, retirement, and saving both before and after retirement.
Curated
Survey of Pension Providers, 1983:[United States] (ICPSR 9949)
Released/updated on: 1993-10-11
Geographic coverage: United States
A major objective of this study was to identify and to quantify pension plan provisions and benefit formulas using a standard format. The overall research design for the study was based on the SURVEY OF CONSUMER FINANCES, 1983 (ICPSR 9751), which assessed the financial status of American households using a "balance-sheet" approach. This approach permits a systematic investigation of the various types of assets and liabilities held by households, with each component monetized at its current market value. Detailed information was collected on household savings and wealth, including the amount and types of financial and nonfinancial investments and liabilities, as well as entitlements to private and public pension benefits. Pension plan providers were identified and then contacted for information about their plans. Pension plan variables include actual service years, potential service years, final average pay, Social Security offset, mandatory contributions by participants, employer matching of mandatory contributions, potential voluntary contributions by participants, employer matching of voluntary contributions, employer contributions to pension plan, employer contributions to participants, and lump-sum contributions at retirement. Pension eligibility requirement variables include required age and service, other requirements, date restrictions, when payments begin, and length of payment period. Household and individual variables cover date of birth, date hired, age hired, date terminated employment, age terminated employment, date retirement benefits begin, age retirement benefits begin, date at death, age at death, probability of retirement circumstance, participant's special qualifications, hours worked per year, rate of pay per year, and participant's voluntary contributions.