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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor---------------------- Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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U.S. Department of Labor

Employee Benefits Security Administration (EBSA)

September 2014

 

Private Pension Plan Bulletin: Abstract of 2012 Form 5500 Annual Reports [September 2014]

http://www.dol.gov/ebsa/pdf/2012pensionplanbulletin.pdf

[full-text, 73 pages]

 

[excerpt]

Over the past three decades, as the U.S. private pension

system has shifted from defined benefit (DB) plans toward

defined contribution (DC) plans, often to a 401(k) type DC plan,

the financing of retirement benefits has shifted from employers

to participants. In 1978, when legislation was enacted

authorizing 401(k) type plans that allow employees to

contribute to their own retirement plan on a pre-tax basis,

participants contributed 29 percent of the contributions to DC

plans and only 11 percent of total contributions1 to all DB and

DC pension plans. In the years following 1978, employee

contributions to DC plans steadily rose to a peak of

approximately 60 percent in 1999, where it has remained.

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