The Rise of Contingent Employment and the Decline of Pension Coverage

Orr, Douglas V.

doi:10.1177/048661349602800311

Cited by 5 publications

(1 citation statement)

References 4 publications

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“…Career employees had traditionally depended on the U.S. economy to provide stable jobs, increasing pay and defined benefit pensions, which they could rely on as a steady source of income clear into their retirement years. [31][32][33] The evolution of retirement plan options in the U.S. economy is fascinating. The 1980s and 1990s witnessed a significant shift in pension arrangements when several firms endorsed and adopted 401(k) plans as highlighted in a study 34 by Ghilarducci et al 35 The analysis revealed that during this period, firms were combining 401(k) plans with pensions and that it was difficult to ascertain whether their intention was to supplement pensions or phase them out.…”

Section: Retirement Planning Under Increased Uncertaintymentioning

confidence: 99%

The Inevitable Rise in Dual-Income Households and the Intertemporal Effects on Labor Markets

Leonce

2020

Compensation & Benefits Review

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The number of dual-income households has been steadily increasing over the past few decades. This study supports the hypothesis that given a household’s desire to remain above a minimum threshold standard of living, the rise in the number of dual-earner households is inevitable mostly due to inflationary pressures in product markets including rising housing prices and child care costs coupled with relatively flat wage trends. Mitigating uncertainty and risk associated with shifts in retirement plan offerings—moving away from defined benefit plans such as pensions toward defined contribution options such as 401(k) plans—was also cited as a factor contributing to the rising number of dual earners. This study highlights the costs and benefits of dual-earning decisions and the intertemporal implications for households, labor markets and overall societal welfare.

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Section: Retirement Planning Under Increased Uncertaintymentioning

confidence: 99%