Wharton Pension Research Council Working Papers
 

Title

Cultivating Pension Plans

Document Type

Working Paper

Date of this Version

9-1-2014

Abstract

Federal law both cultivates and regulates employer-sponsored pension plans in the United States. Some believe that because employers have been migrating away from traditional defined benefit pension plans in the United States, the plan cultivation provisions of federal law have failed to encourage U.S. employers to offer pension benefits to their employees. However, Congress has allowed each employer to decide for itself whether to provide pension benefits to its employees and, if so, what kind of pension benefits to provide. Employers appear to have migrated away from traditional defined benefit plans primarily because employers have concluded that defined contribution plans and some hybrid plans are more compatible with their own interests and the interests of their employees than are traditional defined benefit plans.

Comments

The published version of this Working Paper may be found in the 2016 publication: Reimagining Pensions.

Keywords

Code, cultivation, defined benefit, defined contribution, ERISA, migration, pension, regulation, self-defeating, voluntary.

Working Paper Number

WP2014-14

Copyright/Permission Statement

All opinions, errors, 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. © 2014 Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.

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Date Posted: 26 June 2019