401(k) plans and future patterns of retirement saving
Article Abstract:
An increasing number of firms and individuals are employing 401(k) retirement savings plans which has led to a substantial change in the pattern of savings flows in the US. Some 23.1 million people subscribed to such plans in 1993, with total employer and employee contributions reaching $69.3 billion. Analysis indicates that the future of 401(k) plans may be significantly affected by factors including their increasing popularity in small firms, the allocation of 401(k) assets between bonds and stocks, and the extent to which employees draw down balances before retiring.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
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The cause of wealth dispersion at retirement: choice or chance?
Article Abstract:
The factor affecting wealth accumulation and savings patterns in US households were considered using data from a study conducted by the Health and Retirement Survey in 1992. All forms of assets including Individual Retirement Accounts, 401(k) balances, and real estate equity was considered. Findings show a distinct lack of saving activity among individuals with high earnings despite a higher potential to save than individuals with lower earnings. Factors such as the alternative to save or spend was seen as the primary factor affecting wealth dispersion.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
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