Tag: manage money
Abstract Since the enactment of Social Security, the concept of “integration” with Social Security has been a feature of the private pension system. Integration permits employers to take their contributions to Social Security into account and reduce the benefits of low-paid workers in their tax-qualified retirement plans. Prior studies suggest that (1) integration is declining…
Introduction Over the past two decades, private pension coverage has shifted from defined benefit plans to 401(k) plans. This shift has many important implications for the retirement security of older Americans. One so-far-overlooked consequence is that it has changed the relative price of annuities for men and women. Annuities are financial instruments that guarantee retirees…