Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Income Replacement Ratios In The Health And Retirement Study
Download Income Replacement Ratios In The Health And Retirement Study full books in PDF, epub, and Kindle. Read online Income Replacement Ratios In The Health And Retirement Study ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Income Replacement Ratios in the Health and Retirement Study by : Patrick J. Purcell
Download or read book Income Replacement Ratios in the Health and Retirement Study written by Patrick J. Purcell and published by . This book was released on 2015 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article describes the income replacement ratio as a measure of retirement income adequacy and identifies several issues analysts must consider when calculating a replacement ratio. The article presents the income replacement ratios experienced by participants in the original sample cohort of the Health and Retirement Study (HRS), who were born between 1931 and 1941. Replacement ratios are shown by the respondent's birth cohort, age when first classified as retired in the HRS, and preretirement income quartile. Median replacement ratios fall as the retirement period grows longer.
Book Synopsis Measuring Retirement Income Adequacy, Part One by : Jack VanDerhei
Download or read book Measuring Retirement Income Adequacy, Part One written by Jack VanDerhei and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is the first of a two-part series intended to sort through some of the issues and variations in determining whether the post-World War II baby boom generation is likely to achieve an "acceptable" standard of living in retirement. A recent study by Hewitt Associates shows that the typical 401(k) participant is well-positioned to replace 85-95 percent of preretirement income when current Social Security, existing profit-sharing, and defined benefit plans are taken into account. The study examined the projected preretirement income replacement levels across 62 large companies of the 960,000 employees who were actively participating in their 401(k) plans as of January 1, 2003. The overall average replacement ratio for the Hewitt analysis drops from 95 percent under the high medical coverage assumption to 83 percent under the medium assumption and 80 percent under the low medical coverage assumption. This is true for employees retiring at a "normal" retirement age of 65, and who are relying primarily on Medicare for their health care benefits. Employees retiring at an earlier age will experience an even larger financial setback.
Book Synopsis Working Longer by : Alicia H. Munnell
Download or read book Working Longer written by Alicia H. Munnell and published by Rowman & Littlefield. This book was released on 2009-10-01 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Daily headlines warn American workers that their retirement years may be far from golden. The main components of the retirement income system—Social Security and employer-provided pensions and health insurance—are in decline while the amount of income needed for a comfortable retirement continues to rise. In Working Longer, Alicia Munnell and Steven Sass suggest a simple solution to this problem: postponing retirement by two to four years. By following their advice, the average worker retiring in 2030 can be as well off as today's retirees. Implementing this solution on a national scale, however, may not be simple. Working Longer investigates the prospects for moving the average retirement age from 63, the current figure, to 66. Munnell and Sass ask whether future generations will be healthy enough to work beyond the current retirement age and whether older men and women want to work. They examine companies' incentives to employ older works and ask what government can do to promote continued participation in the workforce. Finally, they consider the challenge of ensuring a secure retirement for low-wage workers and those who are unable to continue to work. The retirement system faces very real challenges. But together, workers, employers, and the government can keep this vital piece of the American dream alive.
Book Synopsis How Much Income Do Retirees Actually Have? Evaluating the Evidence from Five National Datasets by : Anqi Chen
Download or read book How Much Income Do Retirees Actually Have? Evaluating the Evidence from Five National Datasets written by Anqi Chen and published by . This book was released on 2018 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent research by Bee and Mitchell (2017) has refocused attention on the fact that the Current Population Survey (CPS) underestimates retirement income. In the wake of this study, some observers have questioned whether other surveys more frequently used by retirement researchers also understate retirement income and, if so, whether prior research suggesting that many households are unprepared for retirement is accurate. This paper addresses both questions by examining retirement income data from the CPS and four other surveys: 1) the Survey of Consumer Finances (SCF); 2) the Health and Retirement Study (HRS); 3) the Panel Survey of Income Dynamics (PSID); and 4) the Survey of Income and Program Participation (SIPP). The paper compares the income measures from each survey to administrative data from tax and Social Security records, both in aggregate and across the income distribution. It then uses a common measure of retirement income adequacy, the replacement rate, to assess overall household preparedness for retirement.
Book Synopsis Effects of Pensions on Savings by : Alan L. Gustman
Download or read book Effects of Pensions on Savings written by Alan L. Gustman and published by . This book was released on 1998 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Retirement Replacement Rates and Saving Behavior by : Eelco Zandberg
Download or read book Retirement Replacement Rates and Saving Behavior written by Eelco Zandberg and published by . This book was released on 2014 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study whether the retirement replacement rate influences households' saving behavior by using the RAND Health and Retirement Study data file. We estimate quantile regressions with the ratio of wealth to permanent income as dependent variable, and age dummies and the retirement replacement rate as main independent variables. Our paper is the first to explicitly link retirement replacement rates to age-wealth profiles. We are unable to conclude that the amount of financial wealth that households have accumulated around the age of 65, relative to permanent income, is decreasing in the replacement rate. However, the age-wealth profile of households in the highest quartile of the replacement rate-distribution is very flat. Finally, households hardly decumulate wealth after retirement and some groups even keep saving after retirement.
Book Synopsis Projected Retirement Wealth and Savings Adequacy in the Health and Retirement Study by : James F. Moore
Download or read book Projected Retirement Wealth and Savings Adequacy in the Health and Retirement Study written by James F. Moore and published by . This book was released on 1997 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low saving rates raise questions about Americans' ability to maintain consumption levels in old age. Using the Health and Retirement Study, this paper explores asset holdings among a nationally representative sample of people on the verge of retirement. Making reasonable projections about asset growth, we assess how much more people would need to save in order to preserve consumption levels after retirement. We find that the median older household has current wealth of approximately $325,000 including pensions, social security, housing, and other financial wealth, an amount projected to grow to about $380,000 by retirement at age 62. Nevertheless, our model suggests that this median household will still need to save 16% of annual earnings to preserve pre-retirement consumption. For retirement at age 65, assets are expected to be about $420,000 and required additional saving totals 7% of earnings per year. These summary statistics conceal extraordinary heterogeneity in both assets and saving needs in the older population. Older high wealth households have 45 times more assets than the poorest decile and this disparity increases with age. There are also large differences in prescribed saving targets, ranging from 38% of annual earnings for those in the lowest wealth decile to negative rates for the wealthiest decile.
Book Synopsis Saving, Wealth, and Retirement by : Surachai Khitatrakun
Download or read book Saving, Wealth, and Retirement written by Surachai Khitatrakun and published by . This book was released on 2003 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Panel on Retirement Income Modeling Publisher :National Academies Press ISBN 13 :0309523478 Total Pages :257 pages Book Rating :4.3/5 (95 download)
Book Synopsis Assessing Policies for Retirement Income by : Panel on Retirement Income Modeling
Download or read book Assessing Policies for Retirement Income written by Panel on Retirement Income Modeling and published by National Academies Press. This book was released on 1997-02-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: The retirement income security of older Americans and the cost of providing that security are increasingly the subject of major debate. This volume assesses what we know and recommends what we need to know to estimate the short- and long-term effects of policy alternatives. It details gaps in data and research and evaluates possible models to estimate the impact of policy changes that could affect retirement income from Social Security, pensions, personal savings, and other sources.
Book Synopsis Measuring Retirement Income Adequacy by : Jack VanDerhei
Download or read book Measuring Retirement Income Adequacy written by Jack VanDerhei and published by . This book was released on 2006 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key weakness of many retirement income models is that they use average estimates for life expectancy, and, consequently, provide workers with only a 50 percent chance of having adequate income in retirement. The Employee Benefit Research Institute (EBRI) has developed a new model - the EBRI/ERF Retirement Security Projection Modelreg; (RSPM) - that incorporates a wide range of data in order to produce a far more inclusive and refined projection of likely retirement income. In projecting retirement income needs, the new EBRI model incorporates three of the most critically important, but difficult-to-model, retirement risks: investment risk, or how individuals' assets will perform during retirement; longevity risk, or how long an individual expects to live; and catastrophic health care costs, which have the potential to wipe out retirement savings. The EBRI model finds that the amount of money Americans will need for an adequate retirement varies widely based on individual factors and often is substantially higher than previously estimated. This paper presents the results obtained by utilizing the concepts already adopted by RSPM for the entire population of certain age cohorts and applying them to stylized examples. These results will provide useful information for individuals attempting to include such crucial factors as longevity, investment, and health care risk into their retirement planning process.This paper is the second of a two-part series measuring retirement income adequacy. A quot;Part 1quot; paper by EBRI (VanDerhei, EBRI Notes, September 2004) reviewed how replacement rates have traditionally been used to establish minimum targets for future retirees by calculating the amount needed to provide the same amount of after-tax income in retirement as that received prior to retirement after adjusting for differences in savings, age, and work-related expenses.
Book Synopsis Pension Participation, Wealth, and Income by : Alicia H. Munnell
Download or read book Pension Participation, Wealth, and Income written by Alicia H. Munnell and published by . This book was released on 2016 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data from the 1992, 1998, 2004, and 2010 waves of the Health and Retirement Study (HRS), this paper compares pension participation, pension wealth, projected retirement income, and replacement rates attributable to past service, by pension type for households ages 51-56. The analysis includes workers' pension coverage during both current and past jobs. Defined contribution (DC) wealth is simply the current account balance. DC income is calculated by projecting current plan balances to retirement, assuming no further contributions, and assuming that households then annuitize. Defined benefit (DB) wealth and income are calculated by apportioning projected benefits to past and future service.This paper found that: • Overall participation is significantly lower in 2010 than in previous waves; the increase in DC participation has not offset the decline in DB participation. • Both mean and median pension wealth in 2010 were larger than in 1992, but lower than in 1998 and 2004. • DC wealth is more skewed towards the top quartile than DB wealth. In 2010, the top quartile held 35 percent of DB compared to 52 percent of DC wealth. • Because DC participants must purchase an actuarially unfair annuity and faced low annuity rates from falling interest rates, the shift to DC plans has produced a decline in the ratio of income to wealth. • The decline in the income-to-wealth ratio would have been even greater if expected retirement ages had not increased. • But, despite later retirement, the ratio of projected retirement income to the highest five years of 51-56 earnings declined substantially from 1998-2010 because earnings have risen. The policy implications of this paper are:• Employer-sponsored plans are providing less today than in the past, so policymakers should consider ways to improve coverage and outcomes. • When restoring balance to Social Security finances, policymakers need to recognize that future retirees will be more dependent on Social Security than those in the past.
Book Synopsis Pre-retirement Lump-sum Pension Distributions and Retirement Income Security by : Gary V. Engelhardt
Download or read book Pre-retirement Lump-sum Pension Distributions and Retirement Income Security written by Gary V. Engelhardt and published by . This book was released on 2001 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Income for the Population Aged 65 and Older by :
Download or read book Income for the Population Aged 65 and Older written by and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Preparing for an Aging World by : National Research Council
Download or read book Preparing for an Aging World written by National Research Council and published by National Academies Press. This book was released on 2001-06-26 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aging is a process that encompasses virtually all aspects of life. Because the speed of population aging is accelerating, and because the data needed to study the aging process are complex and expensive to obtain, it is imperative that countries coordinate their research efforts to reap the most benefits from this important information. Preparing for an Aging World looks at the behavioral and socioeconomic aspects of aging, and focuses on work, retirement, and pensions; wealth and savings behavior; health and disability; intergenerational transfers; and concepts of well-being. It makes recommendations for a collection of new, cross-national data on aging populationsâ€"data that will allow nations to develop policies and programs for addressing the major shifts in population age structure now occurring. These efforts, if made internationally, would advance our understanding of the aging process around the world.
Book Synopsis Aging and the Macroeconomy by : National Research Council
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Book Synopsis Income Replacement and Spending in Retirement by : Katrina Dixon
Download or read book Income Replacement and Spending in Retirement written by Katrina Dixon and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part of the Department of Labor's (DOL) mission is to promote the retirement security of Americas workers, a goal that has become increasingly challenging. One tool for assessing the adequacy of retirement income is the replacement rate. However, recommendations for the replacement rate that a household should target vary widely, in part because of the diverse underlying assumptions used to develop the rates. This book examines whether and how spending patterns vary by age; key factors used to develop target replacement rates; and the usefulness of information on such rates provided by DOL.
Book Synopsis Retirement Security, Better Information on Income Replacement Rates Needed to Help Workers Plan for Retirement by : U.s. Government Accountability Office
Download or read book Retirement Security, Better Information on Income Replacement Rates Needed to Help Workers Plan for Retirement written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-07-26 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Retirement security, better information on income replacement rates needed to help workers plan for retirement : report to congressional requesters.Part of DOL's mission is to promote the retirement security of America's workers, a goal that has become increasingly challenging. One tool for assessing the adequacy of retirement income is the replacement rate. However, recommendations for the...
