Arbeitspapier
Retirement savings adequacy in U.S. defined contribution plans
We evaluate retirement savings adequacy using a large panel of U.S. workers with a 401(k) account. We model medical expenditures, longevity, investment risk, and the likelihood of withdrawals due to hardship, job separation, and reaching age 59 1/2. Based on their current account balances, income, saving, and investment behavior, three in four workers in our sample are not saving enough for retirement. The dispersion is related to plan features, account balances, but also worker saving behavior. A bequest motive, lower housing equity, higher risk aversion, lower discount rates or lower future returns worsen the shortfall. We examine various counterfactual policy interventions.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. WP 2022-40
- Klassifikation
-
Wirtschaft
- Thema
-
Altersvorsorge
Arbeiter
Sparen
Privater Konsum
Lebensverlauf
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gomes, Francisco J.
Hoyem, Kenton
Hu, Wei-yin
Ravina, Enrichetta
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of Chicago
- (wo)
-
Chicago, IL
- (wann)
-
2022
- DOI
-
doi:10.21033/wp-2022-40
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Gomes, Francisco J.
- Hoyem, Kenton
- Hu, Wei-yin
- Ravina, Enrichetta
- Federal Reserve Bank of Chicago
Entstanden
- 2022
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