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Author : Susheng Wang
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book Pension in Wealth Accumulation written by Susheng Wang and published by . This book was released on 1995 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Olivia S. Mitchell
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.3/5 (91 download)
Download or read book Retirement Wealth Accumulation and Decumulation written by Olivia S. Mitchell and published by . This book was released on 1997 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysts have raised questions about current workers' ability and inclination to save" enough for retirement. This issue is of obvious policy interest given the current debate over" reforming national retirement income programs. This paper explores the implications of recent" research regarding retirement wealth accumulation and decumulation for this debate. Our goal is" to identify problems and opportunities in the area of preparedness for retirement."
Author : Cori E. Uccello
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (429 download)
Download or read book Wealth Accumulation in the Health and Retirement Study written by Cori E. Uccello and published by . This book was released on 1999 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : William G. Gale
Publisher : Brookings Institution Press
ISBN 13 : 0815739354
Total Pages : 406 pages
Book Rating : 4.8/5 (157 download)
Download or read book Wealth After Work written by William G. Gale and published by Brookings Institution Press. This book was released on 2021-07-27 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pensions and retirement saving plans have helped millions of households build financial security. But tens of millions of people have been left behind, without access to these wealth accumulation vehicles. For many others, the plans they have do not ensure financial security in retirement. The problems that underlie these failures can be addressed. This book proposes concrete, practical ways to make dependable retirement income accessible for all Americans—not just those with means. Individual accounts have eclipsed traditional pensions as the primary vehicle for retirement saving in the United States—a shift that underlies many sources of retirement insecurity. The 401(k) plan and similar accounts have increased financial security for many people but have done nothing for millions more. Many of those who do have such plans are burdened with the need to make numerous saving, investment, and withdrawal decisions that stress their financial acumen. Financial advice that is unbiased, unconflicted, and affordable is often difficult to find. Managing wealth in retirement—especially the need to convert retirement savings into steady income—poses significant challenges that current financial instruments and practices do not adequately address. Economic downturns like the Great Recession and the COVID-19 pandemic increase financial insecurity and make addressing these issues more urgent. Written by noted experts in the field, Wealth After Work offers practical solutions that address these concerns. The proposals show how policymakers can help all Americans gain access to retirement savings accounts, obtain better information about their savings choices, and better manage their wealth in retirement. By proposing solutions that build on, rather than replace the existing system, the book provides a nuanced, practical guide to reform that would benefit all Americans.
Author : Olivia S. Mitchell
Publisher : University of Pennsylvania Press
ISBN 13 : 9780812234398
Total Pages : 310 pages
Book Rating : 4.2/5 (343 download)
Download or read book Living with Defined Contribution Pensions written by Olivia S. Mitchell and published by University of Pennsylvania Press. This book was released on 1998-05-29 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of Contents
Author : Edda Claus
Publisher : John Wiley & Sons
ISBN 13 : 1119158419
Total Pages : 312 pages
Book Rating : 4.1/5 (191 download)
Download or read book A Collection of Surveys on Savings and Wealth Accumulation written by Edda Claus and published by John Wiley & Sons. This book was released on 2016-02-23 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of critical surveys the reader is provided with a range of up-to-date work from some of the leading scholars in the area, writing on private and public sector aspects of savings and wealth accumulation. A survey of savings and wealth accumulation which are important dimensions of research and policy debates Discusses the measurement of genuine savings and sustainability, the estimation of wealth inequality, and recent developments in consumer credit and defaults Evaluates the impact of student loans on financial well-being, people’s retirement decisions, and the impact of pension reform Considers the distribution of wealth across generations and the importance of accurately measuring government debt, the rise of sovereign wealth funds and Islamic banking and finance
Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309170877
Total Pages : 326 pages
Book Rating : 4.3/5 (91 download)
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.
Author : Alan L. Gustman
Publisher :
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.3/5 (91 download)
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:
Author : Renata Bottazzi
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.X/5 (4 download)
Download or read book Retirement Expectations, Pension Reforms and Their Effect on Private Wealth Accumulation written by Renata Bottazzi and published by . This book was released on 2005 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Winston Lin
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Pension Benefits written by Winston Lin and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impacts of pension benefits on capital asset pricing in conjunction with wealth accumulation and retirement, and derives and tests a dynamic capital asset pricing model (CAPM) within the framework of a life cycle hypothesis-based dynamic model. The life cycle hypothesis-based dynamic model maximizes the expected utility of the individual's lifetime wealth in a continuous time process. An optimal solution of the individual's wealth path, incorporating the ages of retirement and death, is obtained and, based on the optimal wealth path, an analysis of comparative dynamics is pursued. Then the dynamic CAPM is derived from the optimal wealth path; and simulation and nonparametric tests are undertaken to evaluate the performance of the dynamic CAPM as compared to the traditional model that does not consider the impacts of pension benefits and the static model that incorporates the effects of pension benefits. The test results suggest that the proposed dynamic CAPM closely states the expected rate of return for a capital asset; that the new dynamic CAPM is preferable over the static model that is preferable over the traditional model; and that the three models considered are statistically distinguishable from one another.
Author : Steven F. Venti
Publisher :
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.3/5 (91 download)
Download or read book Choice, Chance, and Wealth Dispersion at Retirement written by Steven F. Venti and published by . This book was released on 2000 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: People earn just enough to get by' is a phrase often used to explain the low personal saving rate in the United States. The implicit presumption is that households simply do not earn enough to pay for current needs' and to save. We show in this paper that at all levels of lifetime earnings there is an enormous dispersion in the accumulated wealth of families approaching retirement. It is not only households with low incomes that save little; a significant proportion of high income households also saves little. And, a substantial proportion of low income households save a great deal. We then consider the extent to which differences in household lifetime financial resources explain the wide dispersion in wealth, given lifetime earnings. We find that very little of this dispersion can be explained by chance differences in individual circumstances largely outside the control of individuals' that might limit the resources from which saving might plausibly be made. We also consider how much of the dispersion in wealth might be accounted for by different investment choices of savers some more risky, some less risky given lifetime earnings. We find that investment choice is not a major determinant of the dispersion in asset accumulation. It matters about as much as chance events that limit the available resources of households with the same lifetime earnings. We conclude that the bulk of the dispersion must be attributed to differences to in the amount that households choose to save. The differences in saving choices among households with similar lifetime earnings lead to vastly different levels of asset accumulation by the time retirement age approaches.
Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309261961
Total Pages : 230 pages
Book Rating : 4.3/5 (92 download)
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.
Author : Timothy Jay Schibik
Publisher :
ISBN 13 :
Total Pages : 236 pages
Book Rating : 4.:/5 (231 download)
Download or read book The Effect of Private Pension Saving on Nonpension Wealth Accumulation written by Timothy Jay Schibik and published by . This book was released on 1989 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Renata Bottazzi
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Retirement Expectations, Pension Reforms, and Their Impact on Private Wealth Accumulation written by Renata Bottazzi and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the effect of pension reforms on households' expectations of retirement outcomes and private wealth accumulation decisions exploiting a decade of intense Italian pension reforms as a source of exogenous variation in expected pension wealth. The Survey of Household Income and Wealth, a large random sample of the Italian population, elicits expectations of the age at which workers expect to retire and of the ratio of pension benefits to pre-retirement income between 1989 and 2002. We find that workers have revised expectations in the direction suggested by the reform and that there is substantial offset between private wealth and perceived pension wealth, particularly by workers that are better informed about their pension wealth.
Author : Olivia S. Mitchell
Publisher :
ISBN 13 :
Total Pages : 81 pages
Book Rating : 4.:/5 (129 download)
Download or read book Retirement Wealth Accumulation and Decumulation written by Olivia S. Mitchell and published by . This book was released on 2008 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysts have raised questions about current workers' ability and inclination to savequot; enough for retirement. This issue is of obvious policy interest given the current debate overquot; reforming national retirement income programs. This paper explores the implications of recentquot; research regarding retirement wealth accumulation and decumulation for this debate. Our goal isquot; to identify problems and opportunities in the area of preparedness for retirement.quot.
Author : Renata Bottazzi
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (899 download)
Download or read book Retirement Expectations, Pension Reforms and Their Impact on Private Wealth Accumulation written by Renata Bottazzi and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James M. Poterba
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (12 download)
Download or read book Defined Contribution Plans, Defined Benefit Plans, and the Accumulation of Retirement Wealth written by James M. Poterba and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The private pension structure in the United States, once dominated by defined benefit (DB) plans, is currently divided between defined contribution (DC) and DB plans. Wealth accumulation in DC plans depends on the participant's contribution behavior and on financial market returns, while accumulation in DB plans is sensitive to a participant's labor market experience and to plan parameters. This paper simulates the distribution of retirement wealth, as well as the average level of such wealth, under representative DB and DC plans. The analysis considers the role of asset returns, earnings histories, and retirement plan characteristics using data from the Health and Retirement Study (HRS). To simulate wealth in DC plans, individuals are randomly assigned a share of wages that they and their employer contribute to the plan. The analysis considers several possible asset allocation strategies, with asset returns drawn from the historical return distribution. The DB plan simulations draw earnings histories from the HRS, and randomly assign each individual a pension plan drawn from a sample of large private and public defined benefit plans. The simulations yield distributions of both DC and DB wealth at retirement as well as estimates of the certainty-equivalent wealth associated with representative DB and DC pension structures. The results suggest that average retirement wealth accruals under current DC plans exceed average accruals under private sector DB plans, although the heterogeneity in both types of plans implies many deviations from this rule. The comparison of current DC plans with more generous public sector DB plans is less definitive, because public sector DB plans are more generous on average than their private sector counterparts. The ranking of the expected value of retirement wealth accruals, and the certainty equivalent of those accruals, for these two classes of plans is sensitive to assumptions about the asset allocation rules of the DC plan participant.
