It's easy to make the theoretical case for defined-contribution plans.
And the number of workers in defined-contribution plans jumped to 52 million, from 14.5 million, over the same period.
When offered a choice, most younger professors opt for defined-contribution plans, perhaps making them more likely to work longer.
Company officials say Federal regulations forced them to promote defined-contribution plans.
Finally, defined-contribution plans require more voluntary savings on the part of workers.
With a defined-contribution plan, you can contribute up to 25 percent of your earned income.
In that atmosphere the trend toward defined-contribution plans took off.
But the defined-contribution plans create another problem: There is no guaranteed return.
But I don't feel that a defined-contribution plan only is necessarily the best way to take care of employees.
The other $700 billion is in so-called defined-contribution plans, which are not covered by such insurance.