Book chapter
Chapter 10 Measuring Pension Wealth
Redefining Retirement
Oxford University Press
08/01/2007
DOI: 10.1093/acprof:oso/9780199230778.003.0010
Abstract
Pension wealth plays a critical role in older individuals' retirement behavior and financial security. Accordingly, the magnitude and distribution of pension wealth is important in the ongoing debate about whether Baby Boomers have adequate retirement savings. This chapter summarizes the results of a long-term effort to develop an improved calculator to measure defined contribution pension wealth of older Americans, implemented using the Health and Retirement Study. Results show that pension wealth resulting from voluntary saving (and accrued earnings thereon) comprises half of DC pension wealth calculated for HRS respondents with matched summary plan descriptions. These are lower mean estimates of DC pension wealth than previously found, mainly resulting from changes for the wealthiest tail of the pension-wealth distribution. The findings imply that researchers must think more carefully about the economic assumptions underlying pension measures.
Details
- Title: Subtitle
- Chapter 10 Measuring Pension Wealth
- Creators
- Gary V EngelhardtAnil KumarChris Cunningham
- Resource Type
- Book chapter
- Publication Details
- Redefining Retirement
- Publisher
- Oxford University Press; Oxford
- DOI
- 10.1093/acprof:oso/9780199230778.003.0010
- Language
- English
- Date published
- 08/01/2007
- Academic Unit
- Economics
- Record Identifier
- 9984618642002771
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