%0 Book Section %B Living With Defined Contribution Pensions %D 1998 %T Effects of Pensions on Household Wealth Accumulation: Implications of the Shift Toward Defined Contribution Plans %A William G. Gale %A Milano, Joseph %E Olivia S. Mitchell %E Scheiber, S. %K Net Worth and Assets %K Pensions %X Pension wealth constitutes a sizable portion of households' retirement resources. Close to half of civilian nonagricultural workers participate in pension plans.' Future income flows from private pensions accounted for 20 percent of the wealth of households aged 65-69 in 1991 (Poterba, Venti, and Wise 1994, table 1). Thus the relation between pensions and other household wealth can have important implications for policy issues, such as how to raise the saving rate or assure adequate saving for retirement, as well as for more fundamental issues, such as how people make economic decisions about the future. %B Living With Defined Contribution Pensions %I Univ. of Pennsylvania Press and Pension Research Council %G eng %U https://pensionresearchcouncil.wharton.upenn.edu/wp-content/uploads/2015/09/0-8122-3439-1-6.pdf %4 401(k) participation and balances/Wealth Accumulation %$ 8142 %! Effects of Pensions on Household Wealth Accumulation: Implications of the Shift Toward Defined Contribution Plans