From: "Daniel J.B. Mitchell" [mailto:lera-dialog@lists.illinois.edu] Sent: Tuesday, September 22, 2015 11:04 AM To: LERA-DIALOG@listserv.illinois.edu Subject: “How Has Shift to Defined Contribution Plans Affected Saving?” “How Has Shift to Defined Contribution Plans Affected Saving?” by Alicia H. Munnell, Jean-Pierre Aubry, and Caroline V. Crawford Center for Retirement Research at Boston College 258 Hammond Street, Chestnut Hill, MA 02467 The brief’s key findings are: * Many believe that people are saving less for retirement due to the shift from defined benefit (DB) to defined contribution (DC) plans. * The analysis uses National Income and Product Accounts data, with adjustments, to compare DB benefit accruals with DC contributions from 1984-2012. * The results show that the percentage of total salaries going to retirement saving has declined slightly during this period. * But if returns on asset accumulations are included, the annual change in pension wealth is relatively steady, so the shift to DC plans has not led to less total saving. * What has changed is that individuals, rather than plan sponsors, now bear all of the risk. http://crr.bc.edu/briefs/how-has-shift-to-defined-contribution-plans-affected-saving/<https://urldefense.proofpoint.com/v2/url?u=http-3A__crr.bc.edu_briefs_how-2Dhas-2Dshift-2Dto-2Ddefined-2Dcontribution-2Dplans-2Daffected-2Dsaving_&d=AwMFaQ&c=8hUWFZcy2Z-Za5rBPlktOQ&r=3RQbyFOQaJ2O1dB617UfJQfzQnXlgVLewbxArXfhHwn-ozBms5HUDzTq_VlL9WX0&m=qpbyyqCy1Tv3661WF0QjFxk-KdOA5nV2wkL4KsuqIYI&s=nyqYHe6tanSZiZEYNIRg-Jb7FKtlmmpN9bMlxwKoFIs&e=> -- [https://lh5.googleusercontent.com/-XTC8VtdZgd4/TsbuMlSk-kI/AAAAAAAAEnw/dsIvGvY7uUE/w132/Dan%2BPhoto.JPG] Daniel J.B. Mitchell Professor-Emeritus UCLA Anderson Graduate School of Management and UCLA Luskin School of Public Affairs Office Mailing Address: UCLA Anderson Graduate School of Management D502 Cornell 110 Westwood Plaza Los Angeles, California 90095-1481 USA Personal Mailing Address: PO Box 492391 Los Angeles, California 90049-8391 USA Phone Contacts: Office Phone: 310-825-1504 Cell Phone: 310-592-6180 VOICEMAIL 513-TROLLEY [513-876-5539] E-mail: daniel.j.b.mitchell@anderson.ucla.edu<mailto:daniel.j.b.mitchell@anderson.ucla.edu> Web page: http://www.anderson.ucla.edu/faculty/management-and-organizations/faculty/mitchell<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.anderson.ucla.edu_x2195.xml&d=AwMFaQ&c=8hUWFZcy2Z-Za5rBPlktOQ&r=3RQbyFOQaJ2O1dB617UfJQfzQnXlgVLewbxArXfhHwn-ozBms5HUDzTq_VlL9WX0&m=qpbyyqCy1Tv3661WF0QjFxk-KdOA5nV2wkL4KsuqIYI&s=cR1ghjdHfYm6uzBRKQAEjO60OV1mikDBuKG2t28_Nlg&e=> YouTube Channel: http://www.youtube.com/danieljbmitchell<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.youtube.com_danieljbmitchell&d=AwMFaQ&c=8hUWFZcy2Z-Za5rBPlktOQ&r=3RQbyFOQaJ2O1dB617UfJQfzQnXlgVLewbxArXfhHwn-ozBms5HUDzTq_VlL9WX0&m=qpbyyqCy1Tv3661WF0QjFxk-KdOA5nV2wkL4KsuqIYI&s=RoGihpUdQpnzCmE1kW2d6Kw9shuBxUPtb7Gz50CNCY0&e=> Twitter Account for Public Policy 10B and 233: http://www.twitter.com/calpolicy<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.twitter.com_calpolicy&d=AwMFaQ&c=8hUWFZcy2Z-Za5rBPlktOQ&r=3RQbyFOQaJ2O1dB617UfJQfzQnXlgVLewbxArXfhHwn-ozBms5HUDzTq_VlL9WX0&m=qpbyyqCy1Tv3661WF0QjFxk-KdOA5nV2wkL4KsuqIYI&s=_M5jlpYGyZWd3KxT9m8AWqwwpQNoLuNnLkGUEe3XPzY&e=> Blog for UCLA Faculty Association: http://uclafacultyassociation.blogspot.com/<https://urldefense.proofpoint.com/v2/url?u=http-3A__uclafacultyassociation.blogspot.com_&d=AwMFaQ&c=8hUWFZcy2Z-Za5rBPlktOQ&r=3RQbyFOQaJ2O1dB617UfJQfzQnXlgVLewbxArXfhHwn-ozBms5HUDzTq_VlL9WX0&m=qpbyyqCy1Tv3661WF0QjFxk-KdOA5nV2wkL4KsuqIYI&s=IqRffTW6crR0nQ3HrScdTRuU7c3Hr4KKBORrpp4mFIQ&e=> Mitchell's Musings column for the Employment Policy Research Network http://employmentpolicy.org/page-1775968?pg=1#sthash.VMM6Q7Fj.dpbs<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.employmentpolicy.org_people_daniel-2Djb-2Dmitchell&d=AwMFaQ&c=8hUWFZcy2Z-Za5rBPlktOQ&r=3RQbyFOQaJ2O1dB617UfJQfzQnXlgVLewbxArXfhHwn-ozBms5HUDzTq_VlL9WX0&m=qpbyyqCy1Tv3661WF0QjFxk-KdOA5nV2wkL4KsuqIYI&s=hiV0SjmuXETQx32EJFFBc-8vR8iI2Y8w3EUUA3e5du0&e=>