Although ERISA explicitly sanctioned defined contribution plans as a legitimate form of retirement saving, this Article focuses almost exclusively on defined benefit plans. ERISA aimed at changing the basic provisions of defined benefit plans, not at modifying the nature of defined contribution plans. Therefore, although a study of the consistency of pension plan provisions with national economic goals would necessarily include an analysis of both defined benefit and defined contribution plans, a study of the impact of ERISA seems appropriately limited to defined benefit plans.
Alicia H. Munnell,
ERISA-The First Decade: Was the Legislation Consistent with Other National Goals?,
U. Mich. J. L. Reform
Available at: https://repository.law.umich.edu/mjlr/vol19/iss1/4