Retirement plan wealth inequality: measurement and trends
| Autor: | Anthony Webb, Siavash Radpour, Teresa Ghilarducci |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Organizational Behavior and Human Resource Management
Economics and Econometrics 050208 finance Inequality Earnings Strategy and Management Mechanical Engineering media_common.quotation_subject 05 social sciences Metals and Alloys Plan (drawing) Health and Retirement Study Industrial and Manufacturing Engineering 0502 economics and business Economics Demographic economics 050207 economics Finance media_common |
| Zdroj: | Journal of Pension Economics and Finance. 21:119-139 |
| ISSN: | 1475-3022 1474-7472 |
| Popis: | Using Health and Retirement Study data linked to summary plan descriptions and W-2s, this study reports trends in retirement wealth inequality of older employees 1992–2010. The study identifies and corrects methodological flaws in past research. Retirement wealth is highly unequally distributed; the top lifetime earnings quintile holds half of all retirement wealth, the bottom quintile, only 1%. The top earnings quintile fared better in 2010 than in 1992, whereas bottom-quintile earners fared worse. But retirement wealth inequality mainly reflects inequality within earnings quintiles, resulting from inadequate savings, not outsize accumulations. Systemic flaws reduce median retirement wealth by 84% |
| Databáze: | OpenAIRE |
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