@inbook {5184, title = {The Impact of the Growth of Defined Contribution Plans on Bequests}, booktitle = {Death and Dollars: The Role of Gifts and Estates in America}, year = {2003}, note = {ProCite field 6 : In ProCite field 8 : eds.}, publisher = {The Brookings Institution Press}, organization = {The Brookings Institution Press}, address = {Washington, DC}, abstract = {This paper explores the shift from defined benefit to defined contribution plans and considers how it might affect bequests and thereby consumption and saving. Our hypothesis is that both intended bequests and unintended bequests will increase as retirees receive more of their pension benefits as lump sums rather than as annuity payments. We also contend that workers recognize that they may not consume their lump-sum payments and react differently to accumulations in defined benefit and defined contribution plans during their lifetime.}, keywords = {Adult children, Consumption and Savings, Pensions}, author = {Alicia H. Munnell and Sund{\'e}n, Annika and Soto, Mauricio and Taylor, Catherine}, editor = {Alicia H. Munnell and Sund{\'e}n, Annika} }