| In the area of private pension plans, in spite of the fact that the increase in administrative costs as a result of regulations were assumed to be a primary reason for the DB/DC shift, no attempt was ever made to measure the impact of federal regulations on the productive efficiency of pension plan administration.;Using the public data (Form 5500) for multi-employer pension plans provided by the Department of Labor, this study revealed continuously decreasing administrative productivity during the 1980s when major pension regulations were introduced. In relation to the base year 1982, Total Factor Productivity declined by 30 percent in 1991. Also, efficiency and productivity change indexes were compared between some specific groups which draw interest with regard to the issue of the DB/DC shift. |
