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Retirement Wealth Accumulation and Decumulation: New Developments and Outstanding Opportunities

  • Olivia S. Mitchell
  • James F. Moore

Analysts have raised serious questions about current workers' ability and inclination to save enough for retirement. This is of obvious policy interest given the need to reform national retirement income programs. In the present paper we examine recent research developments regarding retirement wealth accumulation and decumulation. Our goal is to identify new developments and outstanding opportunities to encourage a more sensible process of growing and then drawing down retirement wealth.

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Paper provided by Wharton School Pension Research Council, University of Pennsylvania in its series Pension Research Council Working Papers with number 97-8.

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Publication status: Published in Journal of Risk and Insurance, 65(3) December 1998: 371-400.
Handle: RePEc:wop:pennpr:97-8
Contact details of provider: Postal:
The Wharton School, 3641 Locust Walk, 304 CPC, Philadelphia, PA 19104-6218

Phone: 215-898-7620
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Web page: http://www.pensionresearchcouncil.org/
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  1. Alan L. Gustman & Olivia S. Mitchell & Andrew A. Samwick & Thomas L. Steinmeier, . "Pension and Social Security Wealth in the Health and Retirement Study," Pension Research Council Working Papers 97-3, Wharton School Pension Research Council, University of Pennsylvania.
  2. Angela E. Chang, 1995. "Tax policy, lump-sum pension distributions, and household saving," Research Paper 9507, Federal Reserve Bank of New York.
  3. Feldstein, Martin, 1978. "Do private pensions increase national savings?," Journal of Public Economics, Elsevier, vol. 10(3), pages 277-293, December.
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  9. Canner, Niko & Mankiw, N Gregory & Weil, David N, 1997. "An Asset Allocation Puzzle," American Economic Review, American Economic Association, vol. 87(1), pages 181-191, March.
  10. Gale, W.G. & scholz, J.K., 1992. "IRAS and Household Saving," Papers 9244, Tilburg - Center for Economic Research.
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  18. Bodie, Zvi & Merton, Robert C. & Samuelson, William F., 1992. "Labor supply flexibility and portfolio choice in a life cycle model," Journal of Economic Dynamics and Control, Elsevier, vol. 16(3-4), pages 427-449.
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  27. repec:uwp:jhriss:v:30:y:1995:p:s158-s183 is not listed on IDEAS
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  35. Douglas D. Bernheim, . "Financial Illiteracy, Education, and Retirement Saving," Pension Research Council Working Papers 96-7, Wharton School Pension Research Council, University of Pennsylvania.
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