[quote=AN]In 1984, the life expectancy is 71 for white men vs 75 today. How much does pension pay per year and what was the retirement age? People are living longer and longer every year.
You’re right, $120k with pension is > than $170k w/out pension. However, what’s the ratio of people retiring with pension in 1984 vs today? I tried to find this data but can’t find anything. There are people today who retire with pension. It’s not like it’s completely disappear.[/quote]
Here’s what I was able to find:
By 1974, nearly 31 million workers were covered by private pensions, with 27 million enrolled in defined benefit plans.2 Private retirement plans had become the major source of income for many retired workers.
Another source of data shows the trend away from defined benefit (pension) plans to defined contribution plans. http://www.dol.gov/ebsa/pdf/historicaltables.pdf
1984: 168k pension plans in force. Or 28% of retirement plans were DB.
2008: 48k pension plans in force. Or 6% of retirement plans were defined benefit.
(page 5 of the link)
Looking at page 9 of the link. In 1984, 55% of people with DC (defined contribution) or DB (defined benefit plans were in DB plans.
In 2008 it was 33% DB for those with DB or DC plans.
There’s a lot more data in the dol.gov link… it’s going to take me some time to absorb it. Lots of pretty charts, too.
