The Disappearing Defined Benefit Pension and its Potential Impact on the Retirement Incomes of Boomers

Butrica, Barbara A.; Iams, Howard M.; Smith, Karen E.; Toder, Eric

doi:10.2139/ssrn.1370503

Cited by 40 publications

(33 citation statements)

References 4 publications

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“…Butrica et al (2009) simulate the effect of freezing existing private sector DB plans and replacing them with DC plans. They conclude that such changes would generate a distribution of outcomes, with some prospective retirees receiving higher retirement income and others less.…”

Section: The Evolution Of Employment-related Retirement Saving Vehmentioning

confidence: 99%

Retirement Security in an Aging Population

Poterba

2014

American Economic Review

187

109

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Section: The Evolution Of Employment-related Retirement Saving Vehmentioning

confidence: 99%

Retirement Security in an Aging Population

Poterba

2014

American Economic Review

187

109

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“…This dependency was as widespread in the USA (Binstock, 2010) and the UK (Walker, 2000). Part of this dependence includes the belief that the income needs of older retired people are lower than for those in the labour market, an age stereotype that justifies setting public pension rates below or at poverty levels in many countries including Canada (Butricia, Iams, Smith, & Toder, 2009;Walker, 2000). While Canada frequently advertises that the income-inretirement-problem has been solved, it is somewhat astounding that the poverty level for unattached people over age 65 dropped from a massive 69.1 to a disappointing 57.7 percent between 1969 to 1982.…”

Section: The Consolidation Of Retirement In Canadamentioning

confidence: 99%

The Evolution of Retirement as Systematic Ageism

McDonald

2012

Ageism and Mistreatment of Older Workers

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The Evolution of Retirement as Systematic Ageism Lynn McDonaldQuestions that people ask, when they hear that mandatory retirement has been repealing include: will people be forced to toil longer to stay financially healthy? Will they change careers later in life to keep their interest in a subject or explore new interests? How will working longer affect their health? How will much older people affect the ambitions and working styles of younger colleagues? Will companies have to change their health and benefit plans to accommodate older people? This chapter discusses implications for both individuals and companies about hiring/retaining workers beyond the mandatory retirement age including differences in power relationships that place older workers who love and want to stay in their job in a compromised position. Issues related to international political economy will be addressed.Un certain nombre de questions reviennent souvent, quand les gens entendent que le départ à la retraite obligatoire a été supprimé: Vont-ils être obligés de travailler plus longtemps pour s'assurer de rester en bonne santé financière? Vont-ils devoir changer de carrière plus tard pour maintenir leur intérêt dans leur domaine professionnel ou devrontils explorer de nouveaux intérêts? Comment travailler plus longtemps affectera leur santé? Quelles incidences auront les travailleurs beaucoup plus âgés sur les ambitions et le style de travail de leurs collègues plus jeunes? Est-ce que les entreprises devront modifier leur plan de santé et régimes de retraite pour accueillir les personnes âgées? Ce chapitre examine les implications au niveau des travailleurs et des entreprises sur la politique d'embauche / rétention des travailleurs au-delà de l'âge de la retraite obligatoire, y compris les différences en terme de position de pouvoir qui placent les travailleurs âgés qui aiment et veulent maintenir leur emploi dans une position de compromis. Des questions liées à l'économie politique mondiale seront aussi abordées.

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“…Mitchell and Phillips (2006) discuss conceptual issues involved with measuring Social Security replacement rates. 14 Butrica et al (2009) and Wolff (2014) also explore the distributional implications of the decline in DB coverage for future retirement outcomes.…”

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confidence: 99%

The Evolution of Retirement Wealth

Devlin-Foltz

Henriques

Sabelhaus

2015

FEDS

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Is the current mix of tax preferences for employer-sponsored pensions and individual retirement saving in the U.S. delivering the best possible retirement-preparedness across and within generations? Using data from the triennial Survey of Consumer Finances for 1989 through 2013, cohort-based analysis of life-cycle trajectories shows that (1) overall retirement plan participation was relatively stable or even rising through 2007, though participation fell noticeably in the wake of the Great Recession and has remained lower, (2) participation is strongly correlated with income, and the shift in the type of pension coverage occurred within-not just across-income groups, (3) relative to previous cohorts and a counterfactual lifecycle benchmark, the recent decline in retirement plan participation and defined contribution (DC) retirement account balanceto-income ratios is concentrated among younger families and lower-income families.

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The Disappearing Defined Benefit Pension and its Potential Impact on the Retirement Incomes of Boomers

Cited by 40 publications

References 4 publications

Retirement Security in an Aging Population

Retirement Security in an Aging Population

The Evolution of Retirement as Systematic Ageism

The Evolution of Retirement Wealth

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