Pension And Social Security Wealth In The Health And Retirement Study

Pension and Social Security Wealth in the Health and Retirement Study PDF Book Detail:
Author: Alan L. Gustman
Publisher:
ISBN:
Size: 38.85 MB
Format: PDF, Docs
Category : Health insurance
Languages : en
Pages : 87
View: 5250

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Book Description: 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 the 90th to 95th wealth percentiles. The HRS surveys households aged 51 to 61 in 1992, and obtains pension plan descriptions from respondents' employers. Pension accrual profiles, income and wealth distributions by type, wealth-income ratios and accrued wealth by pension status are also explored.

Retirement And Wealth

Retirement and Wealth PDF Book Detail:
Author: Alan L. Gustman
Publisher:
ISBN:
Size: 74.66 MB
Format: PDF, ePub, Docs
Category : Early retirement
Languages : en
Pages : 67
View: 4329

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Book Description: This paper estimates reduced form retirement and wealth equations, and analyzes the relationship between them. Data are from the first four waves of the longitudinal Health and Retirement Study, individuals born from 1931 to 1941. Single equation retirement models relate the probability of retiring to forward looking measures of changes in the values of social security and pension benefits when retirement is postponed. Such simple models suggest that if the social security early retirement age were to be raised or abolished, more people would retire earlier rather than later. Our work analyzes the reasons for such counter intuitive predictions, and discusses the need to analyze these policies in the context of a structural model of retirement and wealth. To improve retirement analysis, we develop the premium value, a measure of the future value of pensions and social security that better reflects the accrual of benefits under defined contribution plans. We also introduce a new definition of retirement to blend information on objective hours worked with subjective self reports of retirement status. Our findings also explore the effects of social security incentives on partial retirement, and consider the importance of partial retirement in any study relating social security to retirement behavior.

A New Paradigm For Social Welfare In The New Millennium

A New Paradigm for Social Welfare in the New Millennium PDF Book Detail:
Author: Yoon Hyung Kim
Publisher: University of Hawaii PressJournals
ISBN:
Size: 80.45 MB
Format: PDF, Docs
Category : History
Languages : en
Pages : 342
View: 4380

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Book Description: The Asian economic crisis drew attention to the urgent need for reforming social welfare programs. Korea survived the brunt of the economic crisis, but is still faced with numerous socioeconomic problems that emerged during and after the crisis period. This book offers a comparative review of these problems and of welfare reforms that have already been tried, together with proposals for reforms that could be introduced to guarantee the the most important human needs.

Nber Reporter

NBER Reporter PDF Book Detail:
Author: National Bureau of Economic Research
Publisher:
ISBN:
Size: 61.30 MB
Format: PDF, Kindle
Category : Economic history
Languages : en
Pages :
View: 5706

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Book Description:

Retirement Wealth Accumulation And Decumulation

Retirement Wealth Accumulation and Decumulation PDF Book Detail:
Author: Olivia S. Mitchell
Publisher:
ISBN:
Size: 52.37 MB
Format: PDF, Mobi
Category : Pensions
Languages : en
Pages : 52
View: 6548

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Book Description: Analysts have raised questions about current workers' ability and inclination to save" enough for retirement. This issue is of obvious policy interest given the current debate over" reforming national retirement income programs. This paper explores the implications of recent" research regarding retirement wealth accumulation and decumulation for this debate. Our goal is" to identify problems and opportunities in the area of preparedness for retirement."

Working Paper Series

Working Paper Series PDF Book Detail:
Author:
Publisher:
ISBN:
Size: 52.63 MB
Format: PDF, Kindle
Category : Economics
Languages : en
Pages :
View: 4998

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Book Description:

Social Security Benefits Of Immigrants And U S Born

Social Security Benefits of Immigrants and U S  Born PDF Book Detail:
Author: Alan L. Gustman
Publisher:
ISBN:
Size: 47.99 MB
Format: PDF, ePub, Mobi
Category : Immigrants
Languages : en
Pages : 85
View: 3688

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Book Description: Abstract: For each year of work under the Social Security System, immigrants realize higher benefits than U.S. born, even when their earnings are identical in all years the immigrant has been in the U.S. Two features of the social security benefit calculation are responsible: the social security benefit formula transfers benefits toward those with low lifetime covered earnings, and all years an immigrant spends outside the US are treated as years of zero income. Immigrants with high earnings who have worked in the U.S. for only a 10-20 years benefit most from these procedures. If instead earnings were averaged only over the years an immigrant resides in the U.S., and benefits prorated immigrants would receive the same return on their social security taxes as US born who have the same earnings in each year. It is difficult to justify the current procedures determining benefits for immigrants on the basis of income or wealth differences between US and foreign born. Among HHRS respondents, mean total wealth of immigrants is 92% of the mean total wealth of US born, while the mean income of immigrants exceeds the mean income of US born by 3%. But income and wealth are less evenly distributed among foreign born than US born. Depending on whether the appropriate period for calculating benefits is taken to be 35 or 40 years, prorating would reduce the present value of benefit payments to the cohort of immigrants born from 1932-1941 (91% of the HRS cohort) by $7.5 billion or $15 billion respectively. The 1932-1941 cohort represents 1/7 of all foreign born who are now 25-64. We also ask whether, from a selfish financial viewpoint, US born participants would have preferred to have immigrants from the HRS cohort included in social security. The answer is yes. Despite their better deal, most immigrants in the HRS cohort will pay more in taxes than they will receive in benefits, although just barely.