A defined benefit plan (DB) is a pension plan where the plan sponsor such as an employer assumes responsibility for directing and managing all plan assets. In contrast to a defined contribution plan, the plan sponsor assumes market risk under a defined benefit plan. In addition, the plan sponsor would often assume responsibility for converting accumulated assets into a stream of income for the plan participant—thus performing a function that is similar to an annuity in many ways. The number of defined benefit plans has decreased significantly over the past 20 years.
Mark J. Warshawsky is Director of Retirement Research at Towers Watson.
Dr. Warshawsky served as assistant secretary for economic policy at the U.S. Treasury Department from 2004-2006 and he has held senior level economic research positions at the Federal Reserve Board, the Internal Revenue Service and...
The Treasury Department just released a proposed set of regulations that could have a meaningful impact on the retirement income market in the U.S.
The Treasury’s guidance package builds on feedback received in response to the request for comments issued by the Labor and Treasury Departments last fall.
The...
Jody Strakosch is the National Director for MetLife’s Retirement Products Group. In this role, Jody has a broad perspective on developments in the institutional space. In other words, Jody is intimately familiar with how in-plan accumulation and point of retirement annuities are evolving in the defined contribution arena.
The...
Anna Rappaport is widely recognized as a leading expert on retirement systems, workforce issues, the impact of changing demographics and women’s...
