Research January 2022

A Better Bang for the Buck 3.0

This analysis finds that defined benefit (DB) pension plans offer substantial cost advantages over 401(k)-style defined contribution (DC) accounts. A typical pension has a 49 percent cost advantage as compared to a typical DC account, with the cost advantages stemming from longevity risk pooling, higher investment returns, and optimally balanced investment portfolios. A Better Bang […]

Read more

Press Release January 6, 2022

401(k)s Substantially More Costly than Pensions

For Immediate Release 401(k) Retirement Accounts Substantially More Costly than Pension Plans, According to New Analysis from the National Institute on Retirement Security  Economic Efficiencies Unique to Pensions Enable Plans to Deliver Retirement Benefits at Half the Cost of 401(k) Accounts, With Four-Fifths of the Cost Differential Occurring Post-Retirement  WASHINGTON, D.C., January 6, 2022 – […]

Read more

In the News

Retirement is expensive. Pensions can help.

In a new Forbes column, Dan Doonan writes that the United States is not the only nation facing a retirement savings crisis. He says that many advanced, post-industrial democracies are struggling with similar challenges presented by an aging population. And just like in the U.S., these countries may have a variety of different retirement savings […]

Read more


NEW Competition and Award

The National Institute on Retirement Security and the Conference of Consulting Actuaries have launched a new public pension funding competition and award: Innovative Public Pension Funding Strategies.

Read more