6 Trends That Upend Past Thinking About Retirement Planning

October 4, 2022 by John Manganaro

As noted by Pacific Life’s Reed Lloyd in a recent conversation with ThinkAdvisor, it is a basic fact of life in the U.S. today that traditional defined benefit pension plans are in decline.

Data from the Social Security Administration — and many other sources — backs up the statement. The SSA’s data, for example, shows the number of DB pension plans peaked around the mid-1980s, with some 175,000 DB plans being offered at that time. By the early 2000s, the number of DB pension plans had fallen to 48,000 total plans, and the number as of 2019 stood shy of 47,000 plans.

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Originally Posted at ThinkAdvisor on September 27, 2022 by John Manganaro.