Wharton Pension Research Council Working Papers

Document Type

Working Paper

Date of this Version



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.


The published version of this Working Paper may be found in the 2012 publication: Reshaping Retirement Security: Lessons from the Global Financial Crisis.

Working Paper Number


Copyright/Permission Statement

All findings, interpretations, and conclusions of this paper represent the views of the authors and not those of the Wharton School or the Pension Research Council. © 2011 Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.

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Economics Commons



Date Posted: 28 June 2019