A role for defined contribution plans in the public sector

Munnell, Alicia Haydock, Jean-Pierre Aubry, Josh Hurwitz, and Laura Quinby. “A role for defined contribution plans in the public sector”. State and Local Pension Plans 16, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, April 2011. http://hdl.handle.net/2345/bc-ir:104204.
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Abstract

The brief's key findings are: (1) In recent years, several states have shifted from defined benefit (DB) to defined contribution (DC) pension plans. (2) Many of the new plans are "hybrids" with a slimmed down DB plan and a minimal DC plan, which shifts substantial risk to employees. (3) A better hybrid design could offer a full DB plan up to an income cap and "stack" a DC plan on top for those with higher incomes. (4) The "stacked" approach would give those with modest incomes the full protection of a DB plan while limiting taxpayers' commitment to those with higher incomes.

Title
A role for defined contribution plans in the public sector
Author
Munnell, Alicia Haydock
Aubry, Jean-Pierre
Hurwitz, Josh
Quinby, Laura
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
April 2011
Publisher
Center for Retirement Research at Boston College
Series Title
State and Local Pension Plans
Series Number
16
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104204
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
State and local pensions

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