Relevant Disclosures: I am a Research Associate of the NBER (through which the study above was released) and Associate Director of the NBER Retirement Research Center (through which the authors have received some funding for their study).

FORBES: Tax Subsides for 401(k)'s Work, But Not for the Reasons You May Think

The NBER maintains that a recession began in August 1990 and lasted eight months.

FORBES: Endless Recessions, Jobless Recoveries

The NBER says that the most recent recession started in January 2008 and lasted 18 months.

FORBES: Endless Recessions, Jobless Recoveries