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Effects of Pensions on Savings : Analysis with Data from the Health and Retirement Study

Gustman, Alan L.; Steinmeier, Thomas L. - 2000

earners are higher. Additional savings made over the seven years remaining until retirement will raise those replacement rates … adjustments made for the absence of preretirement savings, children, taxes, work related expenses and other factors, these … are not consistent with a simple life cycle explanation for savings. They also raise questions about whether pensions are …

Persistent link: https://www.econbiz.de/10014181830

Social Security Research at the Michigan Retirement Research Center

Burkhauser, Richard V.; Gustman, Alan L.; Laitner, John; … - 2011

The Office of Retirement and Disability Policy at the Social Security Administration created the Retirement Research Consortium in 1998 to encourage research on topics related to Social Security and the well-being of older Americans, and to foster communication between the academic and policy...

Persistent link: https://www.econbiz.de/10014200096

The Social Security Windfall Elimination and Government Pension Offset Provisions for Public Employees in the Health and Retirement Study

Gustman, Alan L. - 2015

This article uses Health and Retirement Study data to investigate the effects of Social Security's Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) on Social Security benefits received by households. The provisions reduce benefits for individuals or the dependents of...

Persistent link: https://www.econbiz.de/10013033024

Pension and Social Security Wealth in the Health and Retirement Study

Gustman, Alan L.; Mitchell, Olivia S.; Samwick, Andrew A.; … - 2011

Together, pensions, social security and health insurance account for half of the wealth held by all households in the Health and Retirement Study (HRS), for 60 percent of total wealth of HRS households who are in the 45th to 55th wealth percentiles, and even for 48 percent of wealth for those in...

Persistent link: https://www.econbiz.de/10014043164

How Did the Recession of 2007–2009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?

Gustman, Alan L.; Steinmeier, Thomas L.; Tabatabai, Nahid - 2015

Retirement Study? This article uses household wealth and labor market data from the Health and Retirement Study (HRS) to investigate how the recent "Great Recession" has affected the wealth and retirement of those approaching retirement age as the recession began, a potentially vulnerable...

Persistent link: https://www.econbiz.de/10014164011

Retirement Effects of Proposals by the President's Commission to Strengthen Social Security

Gustman, Alan L.; Steinmeier, Thomas L. - 2005

The President's Commission to Strengthen Social Security has proposed a number of changes in Social Security, each of them introducing personal accounts funded from a portion of payroll tax receipts, and in one case, out of additional contributions. These changes are presented in the form of...

Persistent link: https://www.econbiz.de/10014028129

Retirement and Wealth

Gustman, Alan L. - 2003

Using data from the Health and Retirement Study, we estimate reduced form retirement and wealth equations. The retirement equation relates the probability of retiring to the quot;premium valuequot;, a forward looking measure of the future value of pensions and social security that better...

Persistent link: https://www.econbiz.de/10012786844

Retirement and the Stock Market Bubble

Gustman, Alan L.; Steinmeier, Thomas L. - 2003

This paper specifies and estimates a structural dynamic stochastic model of the way individuals make retirement and saving choices in an uncertain world, and applies that model to analyze the effects of the stock market bubble on retirement behavior. The model includes individual variation both...

Persistent link: https://www.econbiz.de/10014093130

Financial Risk, Retirement, Saving and Investment

Gustman, Alan L.; Steinmeier, Thomas L. - 2008

This paper considers the prospects for adding choice of portfolio composition to a life cycle model of retirement and saving, while preserving the ability of the model to continue to explain the course of saving and retirement. If eventually successful, such a modification might be used to...

Persistent link: https://www.econbiz.de/10014220205

Projecting Behavioral Responses to the Next Generation of Retirement Policies

Gustman, Alan L.; Steinmeier, Thomas - National Bureau of Economic Research (NBER) - 2007

This paper examines retirement and related behavioral responses to policies that on average are actuarially neutral. Many conventional models predict that actuarially neutral policies will not affect retirement behavior. In contrast, our model allows those with high time preference rates to find...

Persistent link: https://www.econbiz.de/10005828535

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