Tag: pension income
The brief’s key findings are: A growing number of people are entering retirement with more 401(k) savings and less annuity income from Social Security and traditional pensions. Annuities assure a lifelong income stream and – compared to other draw-down options – can provide attractive payouts, which can help cover late-life health costs. But few individuals…
Abstract Using data from the 1992, 1998, 2004, and 2010 waves of the Health and Retirement Study (HRS), this paper compares pension participation, pension wealth, projected retirement income, and replacement rates attributable to past service, by pension type for households ages 51-56. The analysis includes workers’ pension coverage during both current and past jobs. Defined…
