Working Paper - Urban Institute

More documents

Recommendations

Info

Table 2. Percent of Individuals with Family Income at Age 67, by Source (%) First Boomers Second Boomers Third Boomers Last Boomers (1946-50) (1951-55) (1956-60) (1961-65) Baseline Income from Assets 85 86 86 86 Earnings 48 44 42 42 SSI Benefits 3 2 2 2 Imputed Rental Income 85 85 84 83 Social Security Benefits 94 94 95 94 DB Pension Benefits 50 48 46 44 Retirement Accounts 76 76 77 77 Total Income 100 100 100 100 UK Scenario DB Pension Benefits 50 48 46 42 Retirement Accounts 76 77 78 79 Total Income 100 100 100 100 Note: Projections exclude individuals with family wealth in the top 5 percent of the distribution. Source: Authors' computations of MINT5 (see text for details). The Disappearing Defined Benefit Pension 34
Table 3. Mean Family Income Per Person at Age 67, by Source (in thousands, $2007) First Boomers Second Boomers Third Boomers Last Boomers (1946-50) (1951-55) (1956-60) (1961-65) Baseline Income from Assets 7.1 7.3 7.0 6.9 Earnings 10.7 9.6 9.2 9.5 SSI Benefits 0.1 0.1 0.1 0.1 Imputed Rental Income 3.0 3.0 2.8 2.8 Social Security Benefits 12.7 13.1 13.1 13.1 DB Pension Benefits 5.1 4.1 3.4 3.0 Retirement Accounts 6.2 6.8 7.5 7.7 Total Income 45.0 44.0 43.2 43.0 UK Scenario Income from Assets 7.1 7.2 6.9 6.8 Earnings 10.8 9.6 9.3 9.6 SSI Benefits 0.1 0.1 0.1 0.1 Imputed Rental Income 3.0 3.0 2.8 2.8 Social Security Benefits 12.7 13.1 13.1 13.1 DB Pension Benefits 4.8 3.5 2.6 2.0 Retirement Accounts 6.2 6.9 7.6 8.0 Total Income 44.8 43.5 42.5 42.3 Δ Baseline and UK Scenarios Income from Assets 0.0 0.0 0.0 0.0 Earnings 0.0 0.0 0.0 0.1 SSI Benefits 0.0 0.0 0.0 0.0 Imputed Rental Income 0.0 0.0 0.0 0.0 Social Security Benefits 0.0 0.0 0.0 0.0 DB Pension Benefits -0.2 -0.6 -0.9 -1.1 Retirement Accounts 0.0 0.1 0.2 0.3 Total Income -0.1 -0.5 -0.7 -0.7 Note: Projections exclude individuals with family wealth in the top 5 percent of the distribution. Due to rounding, income components may not sum to total. Source: Authors' computations of MINT5 (see text for details). 35 The Retirement Policy Program
Page 1 and 2: The Disappearing Defined Benefit Pe
Page 3: The Retirement Policy Program A cro
Page 6 and 7: Tables 1. Projected Characteristics
Page 9 and 10: Abstract The long-term shift in cov
Page 11 and 12: Key findings include the following:
Page 13 and 14: Introduction The percentage of work
Page 15 and 16: Traditional DB plans provide worker
Page 17 and 18: from retirement plans have accelera
Page 19 and 20: the retirement income of future boo
Page 21 and 22: for stocks and 2.14 percent for bon
Page 23 and 24: from DB pension income to DC assets
Page 25 and 26: elatively few years to boost their
Page 27 and 28: increases the numbers with DC cover
Page 29 and 30: Who Are the Winners and Losers? The
Page 31 and 32: workers who are affected by DB pens
Page 33 and 34: etirement wealth under the baseline
Page 35 and 36: etirees among formerly better off r
Page 37 and 38: References AARP. 2007. Enhancing 40
Page 39 and 40: 50 45 40 Figure 1. Percent of Last
Page 41: Table 1. Projected Characteristics
Page 45 and 46: Table 5. Mean Family Income Per Per
Page 47 and 48: Table 7. Percent of Individuals Who
Page 49 and 50: Table 9. Change in Mean Family Inco
Page 51 and 52: Appendix A MINT begins with pooled
Page 53 and 54: the first year of benefit take-up.
Page 55 and 56: from DC accounts on an equivalent s
Page 57 and 58: Table B2. Percent of Individuals Wh

Working Paper - Urban Institute

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?