This paper examines the tilt and risk-return characteristics of real retirement incomes provided by variable annuities …

Choices regarding the disposition of wealth at retirement can have substantial implications for retirement income … characteristics as well as risk preferences, time preferences, and financial literacy. The evidence is consistent with predictions … find that these groups of retirees report very different levels of well-being in retirement …

derive the optimal retirement portfolio from a menu that includes payout annuities as well as an investment allocation and a … withdrawal strategy, assuming risk aversion, stochastic capital markets, and uncertain lifetimes. The resulting portfolio … allocation, when fixed as of retirement, is then compared to phased withdrawal strategies such a "self-annuitization" plan or the …

Health and Retirement Study (HRS), for 60 percent of total wealth of HRS households who are in the 45th to 55th wealth …

Retirement income security refers to the ability of households to provide an adequate stream of income during the … period of their retirement from the labor force. Expected retirement income is based of four components: (i) standard non … that both Black and Hispanic households made remarkable progress in terms of mean and median retirement income, poverty …

We pursue a cross-country comparison of relative financial readiness of older households in Japan and the Republic of …

options in defined contribution retirement plans. We document large differences in realized TDF returns and risk profiles …, even for funds with the same target retirement date. Using fund-level data, we find evidence that this heterogeneity … reflects optimal risk-taking by fund families with low market share, especially those entering the market after 2006. Using …

changes that would affect pension payouts including cost of living adjustments (COLAs), retirement ages, and buyout schedules … for early retirement. Liabilities if plans were frozen as of June 2009 would be $3.2 trillion if capitalized using taxable … fair early retirement could reduce them by 2-5%, and raising the retirement age by one year would reduce them by 2-4%. Even …