Pension Type and Retirement Wealth

In this article I analyze the effect of a shift from defined-benefit pension to defined-contribution pensions on retirement wealth. Regressions results suggest that workers with a defined-benefit pension appear to have more retirement resources than those who either have no pension or have a defined-contribution pension, although individual savings is generally insufficient. I use the Health and Retirement Survey (HRS), which contains data on individuals 51 to 61 years of age