Retirement savings decisions should depend on expectations of Social Security retirement income. Persons may be … empirical findings. It also illustrates how data on expectations may help predict how Social Security policy affects retirement …

A program of Personal Retirement Accounts (PRAs) funded by deposits equal to 2.3 percent of earnings (up to the Social … Security maximum) would permit retirees to receive more income in retirement than with the current Social Security program … retirement income and stabilize the Social Security payroll tax, but would also substantially increase national saving and GDP …

period, while others argue that individuals should be protected from recklessly investing their retirement assets. With … a risk of outliving their assets in a privatized system. This paper draws on the existing experience with 401(k) plans …

This paper develops the view that employer-sponsored pension plans are best understood as retirement income insurance …

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

Simple presentations of the life cycle model often suggest a constant level of real consumption in retirement …. Similarly, financial planners commonly suggest that people save for retirement in such a way as to enable them to maintain a … level retirement standard of living equal to their standard of living while working. However, constant consumption with age …

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 …

Retirement benefit guarantees can ensure a minimum standard of living in retirement. I propose a framework to discuss … have negative external effects on public finances, whenever their retirement consumption drops below a minimum level …

This paper discusses the role of annuities in retirement planning. It begins by explaining the basic theory underlying … the individual welfare gains available from annuitizing resources in retirement. It then contrasts these findings with the …

needs of older Americans. In the past twenty five years, however, there has been a dramatic change in private retirement … saving. Personal retirement accounts have replaced defined benefit pension plans as the primary means of retirement saving …. It is important to understand how this change will affect the wealth of future retirees. The personal retirement account …