However, this incentive to retire earlier is already changing without any public policy reforms because companies are moving away from defined benefit pension systems and toward defined contribution systems. (ssa.gov)
DCIIA was founded in 2010 by a coalition of 42 industry firms who shared a view that, if the right steps are taken with a focus on participants, the existing defined contribution system has the ability to support positive retirement outcomes for working Americans. (dciia.org)
The Tier VI pension agreement in 2012 gives state workers earning more than $ 75,000 access to defined contribution system based on the model used by public university employees, known as TIAA - CREF. (nystateofpolitics.com)