•Administrative costs of defined contribution plans are typically 2% of assets
•Only 50 cents of each $1 in a defined contribution plan is paid out in benefits.
•Administrative costs with CalPERS, the nation’s largest defined benefit
plan, 0.18% of assets
•80 cents of each $1 in a defined benefit plan is paid out in benefits
To achieve the same benefit payments, contributions to defined contribution plans would have to increase substantially,
Conference on Public Employee Retirement Systems,