(UM09-09) - How Do Pension Changes Affect Retirement Preparedness?
Alan L. Gustman, Thomas L. Steinmeier and Nahid Tabatabai
This study will analyze changes in pensions in HRS panel data and their implications for total retirement wealth and income replacement rates in retirement. Gainers and losers will be identified and differences in outcomes distinguished by place in the earnings distribution, marital status, gender, by one and two earner households, race, ethnicity, education and job characteristics. The relative importance of Social Security wealth to those experiencing different pension changes will be considered. Behavioral adjustments to pension changes, including changes in retirement and saving, will be analyzed. The analysis will include members of the HRS, War Baby and Early Boomer cohorts.