Tag: retirement age
The brief’s key findings are: The “backloaded” benefit structure of public sector defined benefit plans favors long-tenure workers over short-tenure workers. However, when a defined benefit plan is combined with either Social Security or a defined contribution plan, the degree of backloading is reduced. Not surprisingly, then, the analysis shows that public workers with either Social Security…
The brief’s key findings are: Recent estimates suggest that people need about 80 percent of their pre-retirement income in retirement. The saving rate needed to hit this target depends on earnings, saving start age, retirement age, and asset returns. An average earner who starts saving at 35 and retires at 67 needs to save 18…
