Are the types of retirement plans changing?
In the private sector, they have changed dramatically. The total assets in private sector defined contribution plans and IRAs are substantially larger than the assets in private sector defined benefit plans, which was not the case in 1985. Furthermore, the percentage of retirement plan participants who consider a defined benefit to be their primary plan has dropped significantly. In contrast, public sector retirement plan participants who consider a defined benefit plan as their primary plan has held steady if not increased.