In this brief, the public-sector plan participant savings behaviors are analyzed by gender. Specifically, balances, contributions, and asset allocation by participants’ gender are studied. One of the key findings is that men have larger account balances relative to women across all age groups. On average, women in their 30s hold $0.69 for every $1 that similarly aged men have in their accounts.
The State of Public Sector DC Plans: 2021, the second edition of the State of Public Sector DC Plans derived from the PRRL Database, updates the first edition based on 2019 data. The report includes commentary and graphic representation of public-sector DC plan account balances, contributions, loans, and asset allocations derived from the PRRL Database. The PRRL Database is the repository for plan- and participant-level retirement plan data collected by the PRRL from public plan sponsors from their recordkeepers. The PRRL Database contains year-end 2021 data for 267 457(b), 401(a), 403(b), 401(k), and other defined contribution plans; more than 2.5 million state, county, city, and subdivision employees; and $170 billion in assets.
The report examines DB plan reform and explores why the changing nature of public retirement systems should create a new paradigm for retirement savings; one in which DB and DC plans are seen and treated as complementary tools for achieving retirement security.
In a recently published Employee Benefit Research Institute (EBRI) report,¹ data on employee tenure were examined to see how tenure had changed since the inception of the pandemic. Workers in the public sector were shown to have significantly longer tenures, on average, than those in the private sector, even after the onset of the pandemic. This chartbook builds upon that publication by more closely examining public-sector workers.
Public-sector workers have traditionally been covered by defined benefit (DB) [...]
Industry Report based on 2020 data. This is a summary [...]
Increasing consideration of sustainable investing in retirement plans has been [...]
The newest study from the PRRL reveals that the majority [...]
How can plan sponsors help participants make smart choices with [...]
Study Snapshot | Features findings from the Public Retirement Research [...]