In recent years, companies have shifted from providing pension plans to offering defined contribution retirement plans like 401(k)s.
However, researchers suggest some jobs still offer traditional pensions.
Melinda Morrill, professor of economics at Poole College, reflects on how this trend impacts educators in particular. “Teachers are still predominantly covered by defined benefit pensions,” Morrill says. “Although public employers are making some movement away from these plans, the vast majority of public sector workers are still covered by defined benefit pension plans.”
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