The American work force is embracing the DC plan as an integral part of the retirement process.
By Paula Aven Gladych|December 05, 2013 at 10:22 AM
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Defined contribution retirement plans play a major role in Americans’ retirement readiness, according to a report by the American Council of Life Insurers, American Benefits Council and Investment Company Institute.
DC plans, like 401(k) and 403(b) plans are a critical source of savings for millions of workers at all ages and income levels, the report found. When paired with Social Security benefits, the defined contribution system has helped improve U.S. retirement prospects over time.
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