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Distributional Effects of Defined Contribution Plans and Individual Retirement Arrangements

In: The Distributional Effects of Government Spending and Taxation

Author

Listed:
  • Leonard E. Burman
  • William G. Gale
  • Matthew Hall
  • Peter R. Orszag

Abstract

Since the origins of income tax in 1913, the federal government has subsidized retirement saving relative to other saving. In 2003, the present value of the federal revenue loss from new contributions to employer pensions exceeded $184 billion (Office of Management and Budget, 2004, Table 18.4). Despite the magnitude of these revenue losses and the sizable role of tax-deferred saving in providing retirement income, the distributional effects of these programs have received little attention.1 This chapter helps fill that gap. We describe the development of a retirement saving module in the Tax Policy Center (TPC) microsimulation model and present estimates of the current distribution of benefits from defined contribution plans and individual retirement arrangements.2

Suggested Citation

  • Leonard E. Burman & William G. Gale & Matthew Hall & Peter R. Orszag, 2006. "Distributional Effects of Defined Contribution Plans and Individual Retirement Arrangements," Palgrave Macmillan Books, in: Dimitri B. Papadimitriou (ed.), The Distributional Effects of Government Spending and Taxation, chapter 3, pages 69-111, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37860-5_3
    DOI: 10.1057/9780230378605_3
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    Cited by:

    1. Johann Brunner & Susanne Pech, 2008. "Optimum taxation of life annuities," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 30(2), pages 285-303, February.
    2. Esther Duflo & William Gale & Jeffrey Liebman & Peter Orszag & Emmanuel Saez, 2006. "Saving Incentives for Low- and Middle-Income Families: Evidence from a Field Experiment with H&R Block," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(4), pages 1311-1346.
    3. Bradley T. Heim & Ithai Z. Lurie, 2014. "Taxes, Income, And Retirement Savings: Differences By Permanent And Transitory Income," Contemporary Economic Policy, Western Economic Association International, vol. 32(3), pages 592-617, July.

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