Are 401(k) plans replacing other employer-provided pensions? Evidence frompanel data

This paper examines whether sponsors of traditional defined benefit (DB) pl ans are replacing them with 401(k) or other defined contribution (DC) plans . I compare pension plan offerings by sponsors of a DB plan in 1985 with th eir offerings in 1992 using Form 5500 filings. I find that 401(k) and other DC plans are substituting for terminated DB plans and that offering a DC p lan of any type increases the probability of a DB termination. Thus, it app ears that, at the sponsor level, many of the new 401(k) plans are not avenu es for. net saving but are replacements for the more traditional pension fo rms.