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Encouraging work at older ages is a crucial policy goal for an aging society, but many features of the benefits and tax system discourage work. This study computes the implicit tax rate on work at older ages, broadly defined to include standard income and payroll taxes as well as changes in...
Persistent link: https://www.econbiz.de/10010788889
Persistent link: https://www.econbiz.de/10005089552
The choice of retirement age is the most important portfolio choice most workers will make. Drawing on the Urban Institute's Dynamic Simulation of Income model (DYNASIM3), this report examines how delaying retirement for nondisabled workers would affect individual retiree benefits, the solvency...
Persistent link: https://www.econbiz.de/10005689303
High out-of-pocket health care costs may have serious repercussions for older people and their families. If their incomes are not sufficient to cover these expenses, older adults with health problems may have to deplete their savings, turn to family and friends for financial help, or forego...
Persistent link: https://www.econbiz.de/10005627445
Income tax provisions affect the buildup of retirement assets during workers’ careers and after-tax income following retirement. This paper uses the Urban Institute’s DYNASIM model to simulate how potential changes in the tax treatment of retirement saving, Social Security benefits, and...
Persistent link: https://www.econbiz.de/10005627452
This paper simulates the impact of the 2008 stock market crash on future retirement savings under alternative scenarios. If stocks remain depressed as after the 1974 crash, 20 percent of pre-boomers born 1941-45 and 22 percent of late boomers born 1961-65 would see their retirement incomes drop...
Persistent link: https://www.econbiz.de/10008536103
The official poverty measure in the United States fails to reflect modern day economic resources and spending needs. The official measure is based only on cash income and does not include in-kind transfers, capital gains and losses, taxes, out-of-pocket health spending, the value of...
Persistent link: https://www.econbiz.de/10005260611
Most studies of retirement well-being have focused on outcomes for relatively young retirees. Few studies have considered how retirement security changes as older Americans age. Following older adults from age 67 (when most have stopped working) to age 80, this study uses projections of wealth...
Persistent link: https://www.econbiz.de/10005273179
The booms and busts of the late 1990s and 2000s have taken 401(k) plan participants on a rollercoaster ride. Using data from administrative tax records and household surveys, this paper examines how participants responded to these periods of economic expansions and contractions by documenting...
Persistent link: https://www.econbiz.de/10010617918
Persistent link: https://www.econbiz.de/10008577340