Evolution of employer-provided defined benefit pensions.

From: Monthly Labor Review | Date: December 1, 1991| Author: | Copyright information

Employers in the United States began to provide pension benefits for their employees more than a century ago. Since then, increases in life expectancy and the society's decision that its workers should enjoy an adequate income in their retirement years have led to the widespread private pension system that exists today. As pension coverage has expanded, so has the availability of data designed to keep employers, employees, and policymakers aware of pension plan developments.

The first employer-provided retirement plan in the United States was the industrial pension plan of ...

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