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Are Disappearing Employer Pensions Contributing to Rising Wealth Inequality? Accessible Data

Figure 1: Retirement plan coverage for working age families (ages 25-54), 1989 and 2016

  Year Defined Benefit Only Mixed DB and DC Defined Contribution Only
Wealth Quartile 1 1989 1.6% 16.7% 11.1%
2016 1.8% 3.5% 23.6%
Wealth Quartile 2 1989 4.5% 35.1% 27.5%
2016 3.2% 8.9% 39.0%
Wealth Quartile 3 1989 4.9% 50.3% 29.5%
2016 3.7% 16.5% 59.2%
Wealth Quartile 4 1989 2.6% 51.2% 28.6%
2016 1.9% 37.2% 50.6%

Note: Key identifies bar segments in order from bottom to top.

Source: Federal Reserve Board, Survey of Consumer Finances.

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Figure 2: Fraction of household net worth accounted for by retirement assets

Year Defined Benefit Assets Defined Contribution Assets
1989 0.176 0.055
1989 0.178 0.056
1989 0.177 0.057
1989 0.179 0.058
1990 0.181 0.059
1990 0.184 0.060
1990 0.188 0.060
1990 0.188 0.062
1991 0.187 0.064
1991 0.190 0.066
1991 0.191 0.068
1991 0.190 0.070
1992 0.194 0.071
1992 0.198 0.072
1992 0.200 0.074
1992 0.200 0.074
1993 0.201 0.077
1993 0.202 0.078
1993 0.202 0.080
1993 0.202 0.080
1994 0.203 0.080
1994 0.204 0.082
1994 0.204 0.083
1994 0.204 0.082
1995 0.204 0.085
1995 0.204 0.088
1995 0.202 0.091
1995 0.201 0.093
1996 0.199 0.095
1996 0.199 0.096
1996 0.200 0.098
1996 0.195 0.104
1997 0.195 0.105
1997 0.191 0.109
1997 0.188 0.112
1997 0.187 0.113
1998 0.182 0.116
1998 0.183 0.118
1998 0.189 0.118
1998 0.182 0.122
1999 0.182 0.126
1999 0.180 0.129
1999 0.182 0.130
1999 0.174 0.130
2000 0.172 0.128
2000 0.175 0.128
2000 0.175 0.126
2000 0.179 0.125
2001 0.184 0.121
2001 0.182 0.120
2001 0.189 0.117
2001 0.186 0.116
2002 0.185 0.117
2002 0.189 0.113
2002 0.196 0.111
2002 0.194 0.110
2003 0.195 0.112
2003 0.190 0.116
2003 0.188 0.117
2003 0.182 0.119
2004 0.179 0.116
2004 0.178 0.116
2004 0.179 0.115
2004 0.175 0.116
2005 0.173 0.114
2005 0.171 0.113
2005 0.168 0.113
2005 0.166 0.112
2006 0.162 0.112
2006 0.164 0.115
2006 0.165 0.119
2006 0.164 0.122
2007 0.163 0.123
2007 0.165 0.129
2007 0.167 0.133
2007 0.171 0.133
2008 0.178 0.131
2008 0.183 0.134
2008 0.191 0.128
2008 0.203 0.118
2009 0.208 0.115
2009 0.208 0.127
2009 0.206 0.137
2009 0.205 0.140
2010 0.207 0.144
2010 0.213 0.138
2010 0.213 0.146
2010 0.209 0.149
2011 0.207 0.152
2011 0.208 0.152
2011 0.215 0.144
2011 0.212 0.148
2012 0.208 0.154
2012 0.208 0.151
2012 0.205 0.153
2012 0.203 0.152
2013 0.200 0.154
2013 0.200 0.152
2013 0.198 0.153
2013 0.196 0.156
2014 0.195 0.156
2014 0.194 0.159
2014 0.194 0.157
2014 0.191 0.156
2015 0.189 0.155
2015 0.189 0.154
2015 0.191 0.149
2015 0.189 0.152
2016 0.189 0.153
2016 0.188 0.155
2016 0.185 0.155
2016 0.182 0.153
2017 0.179 0.156
2017 0.178 0.157
2017 0.176 0.159
2017 0.173 0.160
2018 0.171 0.158

Note: Key identifies regions in order from bottom to top.

Source: Financial Accounts of the United States, Tables B.101 and L.117.

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Figure 3: Concentration of DB assets, by wealth quartile, 1989 and 2016

  1989 2016
Wealth Quartile 1 1% 0%
Wealth Quartile 2 7% 4%
Wealth Quartile 3 27% 18%
Wealth Quartile 4 64% 78%

Source: Federal Reserve Board, Survey of Consumer Finances and Financial Accounts of the United States.

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Figure 4: Concentration of DC assets, by wealth quartile, 1989 and 2016

  1989 2016
Wealth Quartile 1 1% 1%
Wealth Quartile 2 6% 4%
Wealth Quartile 3 18% 15%
Wealth Quartile 4 76% 81%

Source: Federal Reserve Board, Survey of Consumer Finances.

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Figure 5: Concentration of non-retirement wealth, by wealth quartile, 1989 and 2016

  1989 2016
Wealth Quartile 1 1% 0%
Wealth Quartile 2 6% 3%
Wealth Quartile 3 13% 9%
Wealth Quartile 4 81% 88%

Source: Federal Reserve Board, Survey of Consumer Finances.

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Figure 6: Concentration of total household wealth, by wealth quartile, 1989 and 2016

  1989 2016
Wealth Quartile 1 1% 0%
Wealth Quartile 2 6% 3%
Wealth Quartile 3 16% 11%
Wealth Quartile 4 78% 85%

Source: Federal Reserve Board, Survey of Consumer Finances and Financial Accounts of the United States.

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Last Update: November 07, 2019