Pre-Retirement Lump-Sum Pension Distributions and Retirement Income Security: Evidence from the Health and Retirement Study
AbstractThis paper uses the Health and Retirement Study to examine the extent of retirement wealth erosion from pre-retirement lump-sum pension distributions. There is little evidence that spent distributions have resulted in significant pension leakage. If spent distributions had been rolled over into a tax-qualified plan, they would have represented 5-11 percent of pension and Social Security wealth for the median household that spent a distribution. However, one-quarter of the households that spent distributions--which is 2.25 percent of all households age 51 to 61--could have increased retirement wealth by 25 percent or more had the distributions been rolled over.
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Bibliographic InfoArticle provided by National Tax Association in its journal National Tax Journal.
Volume (Year): 55 (2002)
Issue (Month): 4 (December Citation: 55 National Tax Journal 665-85 (December 2002))
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