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Can Low Retirement Savings Be Rationalized?
Scott, Jason S. - 2020
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...
Persistent link: https://www.econbiz.de/10012479308
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The Changing Landscape of Pensions in the United States
Poterba, James - 2007
The pension landscape in the U.S. has changed dramatically over the past 25 years. Saving through personal retirement accounts has become the principal form of retirement saving. We document the transition from a defined benefit system to a personal account system and show the effect it has had...
Persistent link: https://www.econbiz.de/10012465269
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An Analysis of Benefit Distribution Options Selected by Individuals Covered by the PBGC
Clark, Robert L.; Pelletier, Denis; Ritter, Beth - National Bureau of Economic Research - 2023
The Pension Benefit Guarantee Corporation becomes the trustee for private defined benefit plans that have defaulted. The PBGC pays retirement benefits as provided by the plan and that are consistent with federal guidelines concerning the type and amounts of distributions. In response to a...
Persistent link: https://www.econbiz.de/10014322865
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Saving Regret
Börsch-Supan, Axel H. - 2018
We define saving regret as the wish in hindsight to have saved more earlier in life. We measured saving regret and possible determinants in a survey of a probability sample of those aged 60-79. We investigate two main causes of saving regret: procrastination along with other psychological...
Persistent link: https://www.econbiz.de/10012480889
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Why Do Couples and Singles Save During Retirement?
De Nardi, Mariacristina; French, Eric; Jones, John Bailey; … - National Bureau of Economic Research - 2021
While the savings of retired singles tend to fall with age, those of retired couples tend to rise. We estimate a rich … that while medical expenses are an important driver of the savings of middle-income singles, bequest motives matter for … of medical expenses and bequest motives is a crucial determinant of savings for all retirees. Hence, to understand …
Persistent link: https://www.econbiz.de/10012533377
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Savings After Retirement : A Survey
De Nardi, Mariacristina - 2015
lifespan risk, can explain a significant portion U.S. savings during retirement. However, more work is needed to disentangle … question is why households do not buy more insurance against these risks. Going beyond total savings and looking at its …
Persistent link: https://www.econbiz.de/10012457399
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Do Required Minimum Distribution 401(k) Rules Matter, and For Whom? Insights from a Lifecycle Model
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - National Bureau of Economic Research - 2021
Tax-qualified vehicles helped U.S. private-sector workers accumulate $25Tr in retirement assets. An often-overlooked important institutional feature shaping decumulations from these retirement plans is the "Required Minimum Distribution" (RMD) regulation, requiring retirees to withdraw a minimum...
Persistent link: https://www.econbiz.de/10012482705
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Automatic Enrollment with a 12% Default Contribution Rate
Beshears, John; Guo, Ruofei; Laibson, David I.; … - National Bureau of Economic Research - 2023
We study a retirement savings plan with a default contribution rate of 12% of income, which is much higher than …
Persistent link: https://www.econbiz.de/10014337834
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How do Behavioral Approaches to Increase Savings Compare? Evidence from Multiple Interventions in the U.S. Army
Patterson, Richard W.; Skimmyhorn, William L. - National Bureau of Economic Research - 2022
increase retirement savings. However, gauging the relative efficacy of these approaches is challenging because the supporting … rates, active choice, and automatic enrollment) designed to increase retirement savings. Consistent with previous literature …, we find sizable effects of savings interventions on participation and cumulative contributions that increase with the …
Persistent link: https://www.econbiz.de/10013462745
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Long-Term-Care Utility and Late-in-Life Saving
Ameriks, John - 2015
Older wealthholders spend down assets much more slowly than predicted by classic life-cycle models. This paper introduces health-dependent utility into a model in which preferences for bequests, expenditures when in need of long-term care (LTC), and ordinary consumption combine with health and...
Persistent link: https://www.econbiz.de/10012457693