SIRN: Retirement Income (Topic)最新文献_第4页

Geographic Mobility Among Residents in Seniors Housing and Care Communities: Evidence from the Residents Financial Survey 老年人住房和护理社区居民的地理流动性:来自居民财务调查的证据

SIRN: Retirement Income (Topic) Pub Date : 2011-11-01 DOI: 10.2139/SSRN.2316857

Norma B. Coe, A. Wu

引用次数: 11

Compensation and Client Wealth Among U.S. Investment Advisors 美国投资顾问的薪酬和客户财富

SIRN: Retirement Income (Topic) Pub Date : 2011-04-04 DOI: 10.2139/ssrn.1802628

Luke Dean, Michael S. Finke

引用次数: 8

Asset Cycles and the Retirement Decisions of Older Workers 资产周期和老年工人的退休决定

SIRN: Retirement Income (Topic) Pub Date : 2010-10-20 DOI: 10.2139/ssrn.1695157

Jan Ondrich

引用次数: 16

What is the Impact of Foreclosures on Retirement Security? 丧失抵押品赎回权对退休保障有何影响?

SIRN: Retirement Income (Topic) Pub Date : 2010-10-19 DOI: 10.2139/SSRN.1711929

A. Webb, Leora Friedberg, Irena Dushi

{"title":"What is the Impact of Foreclosures on Retirement Security?","authors":"A. Webb, Leora Friedberg, Irena Dushi","doi":"10.2139/SSRN.1711929","DOIUrl":"https://doi.org/10.2139/SSRN.1711929","url":null,"abstract":"Using data from several sources, we show that households nearing retirement have lower rates of housing distress than younger households, as measured by arrears and foreclosure rates. However, almost all of the housing wealth gains observed for cohorts aged 51-56 between 1992 and 2004 were erased by 2010, while their mortgages have grown throughout. As a consequence, their loan-to-value ratios are considerably higher, though the percentage paying more than 30 percent of their household income toward their mortgage remains flat. Worrisomely, their financial wealth also declined between 2004 and 2010. Declines in house prices will adversely affect households that need to liquidate housing wealth, and rising mortgage obligations will increase pressure on retirement resources. We develop an econometric model to show factors associated with housing distress and then use the results to forecast housing distress among older households through 2012. We project that the risk of arrears will increase to 3.4 percent in 2010 and 4.4 percent by 2012. We also find that 6.7 percent of HRS households have children or other relatives who are facing housing distress, potentially putting further pressure on their retirement preparedness.","PeriodicalId":127004,"journal":{"name":"SIRN: Retirement Income (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2010-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132477538","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 12

Revisiting Retirement Withdrawal Plans and Their Historical Rates of Return 重新审视退休提款计划及其历史回报率

SIRN: Retirement Income (Topic) Pub Date : 2010-05-16 DOI: 10.2139/ssrn.1641382

Christopher W. O'flinn, Felix Schirripa

{"title":"Revisiting Retirement Withdrawal Plans and Their Historical Rates of Return","authors":"Christopher W. O'flinn, Felix Schirripa","doi":"10.2139/ssrn.1641382","DOIUrl":"https://doi.org/10.2139/ssrn.1641382","url":null,"abstract":"This paper examines the historical record of the so-called 4% rule, the popular guideline for sustainable real annual withdrawals in a self funded retirement. Our findings indicate that a withdrawal plan following this rule (“4R”) carries an historical risk of failure for a long retirement that is much higher than generally acknowledged. For example, we find that 15% of the historical 35-year retirements failed when funded with equal parts of stocks and bonds. The “real” withdrawal plans that generated no historical failures were all less than 4%, sometimes far less, when retirements exceeded 25 years. The historical failure rates that we find for a 5R plan are higher than a 4R plan by a factor of at least three for all retirement periods. The historical failures are not random. Rather they occur in clusters of years in which the majority of new retirement withdrawal plans fail. A key driver of these failures was a rapid, significant and lasting increase in the rate of inflation - this event increased withdrawals and contributed to a declining real rate of return that was ultimately unable to support the withdrawal plan. Although TIPS bonds and inflation-adjusted annuities are both too new for historical analysis, we note they may offer an opportunity to curtail income plan failures in the future. This is because they (1) offer a known real rate of return and (2) adjust for inflation close to the time at which inflation impacts withdrawals. Our review of the prior literature and a detailed description of the methodology used in the study appear at the end of the paper, after the Summary and Conclusions section.","PeriodicalId":127004,"journal":{"name":"SIRN: Retirement Income (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2010-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116692018","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Distributive Effects of Israel's Pension System 以色列养老金制度的分配效应

SIRN: Retirement Income (Topic) Pub Date : 2009-10-01 DOI: 10.2139/ssrn.1499231

Adi Brender

引用次数: 0

A Projection Model of the Contributory Pension Expenditure of the Spanish Social Security System: 2004-50 西班牙社会保障体系缴费养老金支出的预测模型:2004-50

SIRN: Retirement Income (Topic) Pub Date : 2008-04-03 DOI: 10.2139/ssrn.1996491

Joan Gil, M. Lopez-Garcia, Jorge Onrubia, Concepció Patxot, Guadalupe Souto

{"title":"A Projection Model of the Contributory Pension Expenditure of the Spanish Social Security System: 2004-50","authors":"Joan Gil, M. Lopez-Garcia, Jorge Onrubia, Concepció Patxot, Guadalupe Souto","doi":"10.2139/ssrn.1996491","DOIUrl":"https://doi.org/10.2139/ssrn.1996491","url":null,"abstract":"The need for long-term fiscal projections is self evident. Of these projections, pension expenditure is one of the most important since firstly it represents a large share of total expenditure, and secondly because of the positive correlation between this variable and demographic ageing. In this paper, we develop a model to project contributory pension expenditures in the Spanish Social Security System disaggregating the results by pension category, social security regime and sex. The most salient of the results obtained is the expected steady growth of total expenditure in contributory pensions. This would lie around 15% of GDP around 2045 compared to its initial level of barely 8% even though the baseline scenario incorporates a substantial recovery of employment and female participation rates. By pension categories, retirement pensions are those that determine the tendency of total expenditure evolution. Interesting conclusions can also be extracted from the analysis by sex. For instance, even accounting for an increase in female retirement pensions due to their higher participation, the corresponding increase in widow male pensions implies a higher total increase of the total number of contributory pensions accruing to men.","PeriodicalId":127004,"journal":{"name":"SIRN: Retirement Income (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2008-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126508792","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 18

Social Security in Theory and Practice (Ii): Efficiency Theories, Narrative Theories, and Implications for Reform 社会保障的理论与实践(二):效率理论、叙事理论与改革启示

SIRN: Retirement Income (Topic) Pub Date : 1999-05-01 DOI: 10.3386/W7119

C. Mulligan, Xavier Sala-i-Martin

{"title":"Social Security in Theory and Practice (Ii): Efficiency Theories, Narrative Theories, and Implications for Reform","authors":"C. Mulligan, Xavier Sala-i-Martin","doi":"10.3386/W7119","DOIUrl":"https://doi.org/10.3386/W7119","url":null,"abstract":"166 countries have some kind of public old age pension. What economic forces create and sustain old age Social Security as a public program? Mulligan and Sala-i-Martin (1999) document several of the internationally and historically common features of social security programs, and explore political' theories of Social Security. This paper discusses the efficiency theories,' which view creation of the SS program as a full or partial solution to some market failure. Efficiency explanations of social security include the SS as welfare for the elderly', the retirement increases productivity to optimally manage human capital externalities', optimal retirement insurance', the prodigal father problem', the misguided Keynesian', the optimal longevity insurance', the government economizing transaction costs' and the return on human capital investment'. We also analyze four narrative' theories of social security: the chain letter theory', the lump of labor theory', the monopoly capitalism theory', and the Sub-but-Nearly-Optimal policy response to private pensions theory'. The political and efficiency explanations are compared with the international and historical facts and used to derive implications for replacing the typical pay-as-you-go system with a forced savings plan. Most of the explanations suggest that forced savings does not increase welfare, and may decrease it.","PeriodicalId":127004,"journal":{"name":"SIRN: Retirement Income (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"1999-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115006407","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 42