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Author | : Olivia S. Mitchell |
Publisher | : Oxford University Press |
Total Pages | : 249 |
Release | : 2017 |
Genre | : Business & Economics |
ISBN | : 0198808038 |
Download Financial Decision Making and Retirement Security in an Aging World Book in PDF, ePub and Kindle
As the world's population lives longer, it will become increasingly important for plan sponsors, retirement advisors, regulators, and financial firms to focus closely on how older persons fare in the face of rising difficulties with cognition and financial management. This book offers state-of-the-art research and recommendations on how to evaluate when older persons need financial advice, help them make better financial decisions, and to identify policy options for handling these individual and social challenges efficiently and fairly. This latest volume in the Pension Research Council series, draws lessons from theory and practice, and will be of interest to employees and retirees, consumers and researchers, and financial institutions working to design better retirement plan offerings.
Author | : Annamaria Lusardi |
Publisher | : |
Total Pages | : 304 |
Release | : 2011 |
Genre | : Defined contribution pension plans |
ISBN | : 9780191732089 |
Download Financial Literacy Book in PDF, ePub and Kindle
As defined contribution pensions become prevalent, retirees are increasingly responsible for managing their own pension assets and thus their own financial literacy becomes crucial. Based on empirical evidence and new research, this book examines how financial literacy enhances retirement decision-making in ever more complex financial markets.
Author | : Lewis D. Solomon |
Publisher | : |
Total Pages | : 249 |
Release | : 2017-07-26 |
Genre | : |
ISBN | : 9781138510074 |
Download Financial Security and Personal Wealth Book in PDF, ePub and Kindle
America's elderly population is soaring, presenting numerous challenges for policymakers in the United States. Other developed nations with aging populations face similar problems. There will be fewer workers relative to retirees in coming decades and the elderly are also expected to live longer. The impact of these demographic changes in the United States is likely to be challenging, especially for America's system of social security. Solomon offers new perspectives on how to meet the future costs of social security without bankrupting the next generation or gravely damaging the U.S. economy. He also shows, more broadly, how to provide for the financial security of America's senior populations. Over the past two decades, primary responsibility for providing a financially adequate retirement has shifted from the federal government and employers to individuals. For most Americans, social security alone will not provide enough income. Most companies have shed their pension plans for 401(k) plans, to which companies and employees contribute, and in which participants must make their own investment decisions. Consequently, achieving financial security in retirement has increasingly become one's personal responsibility. Solomon deals extensively with the politics of social security, past and present. He examines the presidential leadership of Franklin D. Roosevelt and Ronald Reagan, both of whom revived the nation's spirit in times of crisis, both of whom introduced economic policies that remain controversial to the present day. He also considers in detail contemporary efforts to rethink social security, focusing on fundamental reform of the social security system and the expansion and simplification of employer-sponsored retirement plans and individual retirement arrangements. Richly textured, informed, and informative, Financial Security and Personal Wealthencompasses history, demography, political economy, public finance, social policy. It will be of interest to policymakers, economists, and political scientists in the United States and elsewhere.
Author | : National Research Council |
Publisher | : National Academies Press |
Total Pages | : 230 |
Release | : 2013-01-10 |
Genre | : Social Science |
ISBN | : 0309261961 |
Download Aging and the Macroeconomy Book in PDF, ePub and Kindle
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Author | : Sofia E. Paulsen |
Publisher | : Nova Snova |
Total Pages | : 0 |
Release | : 2020 |
Genre | : Retirement income |
ISBN | : 9781536165067 |
Download Retirement Security Book in PDF, ePub and Kindle
In response to concerns over the adequacy of retirement savings, Congress has created incentives to encourage individuals to save more for retirement through a variety of retirement plans. Some retirement plans are employer-sponsored, such as 401(k) plans, and others are established by individual employees, such as Individual Retirement Accounts (IRAs). Chapter 1 describes the primary features of two common retirement savings accounts that are available to individuals. Chapter 2 examines Department of Labor's process for granting exemptions for prohibited IRA transactions and outcomes of that process, and the extent to which DOL and IRS collaborate on oversight of prohibited transaction rules for IRAs.In response to an aging workforce, countries around the world have developed policies to encourage older workers to work longer to improve the financial sustainability of national pension systems and address shortages of skilled workers. Phased retirement is one option that can be used to encourage older workers to stay in the workforce. Chapter 3 examines the extent to which phased retirement exists in other countries with aging populations, the key aspects of phased retirement programs in selected countries, and the experiences of other countries in providing phased retirement and how their experiences can inform policies in the United States.Federal law encourages individuals to save for retirement through tax incentives for 401(k) plans and IRAs--the predominant forms of retirement savings in the United States. Federal law also allows individuals to withdraw assets from these accounts under certain circumstances. Chapter 4 examines the incidence and amount of early withdrawals; factors that might lead individuals to access retirement savings early; and policies and strategies that might reduce the incidence and amounts of early withdrawals. Chapter 5 reports on the number of households approaching retirement with low savings.As Americans age, family caregivers, such as adult children and spouses, play a critical role in supporting the needs of this population. However, those who provide eldercare may risk their own long-term financial security if they reduce their workforce participation or pay for caregiving expenses. Chapter 6 examines what is known about the size and characteristics of the parental and spousal caregiving population, including differences among women and men; examines the extent to which parental or spousal caregiving affects retirement security; and identifies and discusses policy options and initiatives that could improve caregivers' retirement security.
Author | : Michael P. Barry |
Publisher | : |
Total Pages | : |
Release | : 2018 |
Genre | : Retirees |
ISBN | : 9781547400300 |
Download Retirement Savings Policy Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 108 |
Release | : 2007 |
Genre | : Age distribution (Demography) |
ISBN | : |
Download Growing Older in America Book in PDF, ePub and Kindle
Author | : David A. Wise |
Publisher | : University of Chicago Press |
Total Pages | : 428 |
Release | : 2009-05-15 |
Genre | : Political Science |
ISBN | : 0226903222 |
Download The Economics of Aging Book in PDF, ePub and Kindle
The Economics of Aging presents results from an ongoing National Bureau of Economic Research project. Contributors consider the housing mobility and living arrangements of the elderly, their labor force participation and retirement, the economics of their health care, and their financial status. The goal of the research is to further our understanding both of the factors that determine the well-being of the elderly and of the consequences that follow from an increasingly older population with longer individual life spans. Each paper is accompanied by critical commentary.
Author | : Olivia S. Mitchell |
Publisher | : University of Pennsylvania Press |
Total Pages | : 692 |
Release | : 2001 |
Genre | : Business & Economics |
ISBN | : 9780812235784 |
Download Pensions in the Public Sector Book in PDF, ePub and Kindle
From the Pension Research Council of the Wharton School, this book explores the diversity of governmental pension plans and investigates how these financial institutions must change in years to come.
Author | : Jonathan Gruber |
Publisher | : University of Chicago Press |
Total Pages | : 752 |
Release | : 2009-02-15 |
Genre | : Political Science |
ISBN | : 0226309983 |
Download Social Security Programs and Retirement around the World Book in PDF, ePub and Kindle
Social Security Programs and Retirement around the World represents the second stage of an ongoing research project studying the relationship between social security and labor. In the first volume, Jonathan Gruber and David A. Wise revealed enormous disincentives to continued work at older ages in developed countries. Provisions of many social security programs typically encourage retirement by reducing pay for work, inducing older employees to leave the labor force early and magnifying the financial burden caused by an aging population. At a certain age there is simply no financial benefit to continuing to work. In this volume, the authors turn to a country-by-country analysis of retirement behavior based on micro-data. The result of research compiled by teams in twelve countries, the volume shows an almost uniform correlation between levels of social security incentives and retirement behavior in each country. The estimates also show that the effect is strikingly uniform in countries with very different cultural histories, labor market institutions, and other social characteristics.