A Stress Test for the Private Employer Defined Contribution System
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Economics
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This chapter explores how the US private employer-sponsored defined contribution system fared during the financial market implosion followed by a prolonged macro-economic downturn. While data are still preliminary, we conclude that many plans did well, resulting in little change in employer sponsorship and employee participation. Moreover, account balances and contributions have recovered, boding well for the future.
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2011-09-01
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The published version of this Working Paper may be found in the 2012 publication: Reshaping Retirement Security: Lessons from the Global Financial Crisis (https://pensionresearchcouncil.wharton.upenn.edu/publications/books/reshaping-retirement-security-lessons-from-the-global-financial-crisis/)