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Life-Cycle Saving, Limits on Contributions to Dc Pension Plans, and Lifetime Tax Benefits
Gokhale, Jagadeesh - 2010
limits bind those older middle-income households who started their pension savings programs late in life, those who plan to …
Persistent link: https://www.econbiz.de/10012763191
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Comparing the Economic and Conventional Approaches to Financial Planning
Gokhale, Jagadeesh - 2010
The conventional approach to retirement and life insurance planning, which is used throughout the financial planning industry, differs markedly from the economic approach. The conventional approach asks households to specify how much they want to spend before retirement, after retirement, and in...
Persistent link: https://www.econbiz.de/10012763772
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The Impact of Annuity Insurance on Savings and Inequality
Kotlikoff, Laurence J.; Shoven, John B.; Spivak, Avia - 2021
This is the first paper to document the effect of health on the migration propensities of African Americans in the American past. Using both IPUMS and the Colored Troops Sample of the Civil War Union Army Data, I estimate the effects of literacy and health on the migration propensities of...
Persistent link: https://www.econbiz.de/10013230210
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The Role of Financial Literacy in Determining Retirement Plans
Clark, Robert L. - 2010
Workers nearing retirement face many important, and often irreversible, choices. We collected detailed demographic and financial literacy data on over 1,500 workers nearing retirement at three large companies to assess how individuals are planning for retirement. Many respondents display limited...
Persistent link: https://www.econbiz.de/10013134999
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The Incentive Effects of Private Pension Plans
Kotlikoff, Laurence J. - 2010
The proportion of workers covered by pensions has increased very substantially over the past two or three decades, and … in particular the number of older workers with pensions continues to increase. During the same period,and especially in … related. This paper examines the incentive effects of private pensions. We find that the provisions of pension plans provide …
Persistent link: https://www.econbiz.de/10012762972
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Post-Retirement Increases in Pensions in the 1980s : Did Plan Finances Matter?
Allen, Steven G.; Clark, Robert L.; McDermed, Ann A. - 2021
Many firms give post-retirement increases in pension benefits to retirees even though the pension contract does not require such increases. A leading explanation of this behavior is that benefit increases are part of an implicit contract where retirees accept lower initial benefits in return for...
Persistent link: https://www.econbiz.de/10013218418
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The Family as an Incomplete Annuities Market
Kotlikoff, Laurence J.; Spivak, Avia - 2021
A new empirical study of the relation between money, nominal income, prices, and real output in postwar quarterly U.S. data rejects virtually all of the conclusions reached by Families provide individuals with risk sharing opportunities which may not otherwise be available. Within the family...
Persistent link: https://www.econbiz.de/10013221542
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Pension Backloading, Wage Taxes, and Work Disincentives
Kotlikoff, Laurence J.; Wise, David A. - 2021
The Federal Government is actively involved in encouraging the formation and growth of private pensions and in … regulating their behavior. The primary form of encouragement is the government's tax subsidization of pensions. A primary … private pensions appears to reflect its desire that workers have a secure source of old age income which will lessen their …
Persistent link: https://www.econbiz.de/10013237030
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Post-Retirement Adjustments of Pension Benefits
Allen, Steven G.; Clark, Robert L.; Sumner, Daniel A. - 2021
This paper examines why pension plans increased their liabflities by giving benefit increases to persons no longer working even though almost al lof them were not required to do so by any legally enforceable contract. In our model workers and firms have implicit contracts under which...
Persistent link: https://www.econbiz.de/10013237289
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Phasing into Retirement
Allen, Steven G.; Clark, Robert L.; Ghent, Linda - 2021
Employers have been launching phased retirement programs to help workers navigate the transition from work to retirement more effectively. This paper examines the experience of the phased retirement system for tenured faculty in the University of North Carolina system. After phased retirement...
Persistent link: https://www.econbiz.de/10013238688