Burman, Leonard E.; Coe, Norma B.; Dworsky, Michael; … - In: National Tax Journal 65 (2012) 4, pp. 863-87
We examine workers' disposition of pre-retirement lump-sum distributions, using policy changes in 1986 and 1992 as natural experiments. We find that higher taxes on cash-outs increase rollovers, consistent with both rational and behavioral motives. Several results, however, only make sense in a...