Research Report Balances in Defined Contribution Plans and IRAs
Peter Orszag
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Over the past three decades, the private pension system has shifted toward defined contribution (DC) plans. Despite the shift, most households have little in DC and IRA assets. This report includes a table showing the value of these assets for households headed by someone approaching retirement age. In 2001, the median value of those assets was only $10,400. The data also show that the likelihood of having a DC account or IRA increases markedly as income increases.
Research Areas Aging and retirement
Tags Economic well-being Pensions