Why don you differentiate between income from defined benefit (DB) pensions and income from defined contribution (DC) plans like IRAs and 401(k) accounts?
We do not publish statistics differentiating between DB and DC pensions because a significant portion of payments from DC plans are not collected in the Current Population Survey. The Census Bureau only includes “regular payments” from retirement, survivor, and disability income in its definition of total money income. Many people do not choose to annuitize their pension accounts and instead make withdrawals from their pension accounts on their own. These withdrawals are not part of total money income, and data are not collected on withdrawals from pension accounts in the March Supplement to the Current Population Survey.
Related Questions
- Why don you differentiate between income from defined benefit (DB) pensions and income from defined contribution (DC) plans like IRAs and 401(k) accounts?
- If I join the Defined Contribution (DC) plan, can I later decide to switch to the Defined Benefit (DB) plan?
- What is the difference between the Defined Benefit (DB) and Defined Contribution (DC) plans?