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Shifting income sources of the aged
Traditional defined benefit pensions, once a major source of retirement income, are increasingly giving way to tax-qualified defined contribution (DC) plans and individual retirement accounts (IRAs). This trend is likely to continue among future retirees who have worked in the private sector. This a...
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| Published in: | Social security bulletin 2012-08, Vol.72 (3), p.59-68 |
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| Main Authors: | , , |
| Format: | Article |
| Language: | English |
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| container_end_page | 68 |
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| container_start_page | 59 |
| container_title | Social security bulletin |
| container_volume | 72 |
| creator | Anguelov, Chris E Iams, Howard M Purcell, Patrick J |
| description | Traditional defined benefit pensions, once a major source of retirement income, are increasingly giving way to tax-qualified defined contribution (DC) plans and individual retirement accounts (IRAs). This trend is likely to continue among future retirees who have worked in the private sector. This article discusses the implications of those trends for the measurement of retirement income. We conclude that Census Bureau's Current Population Survey (CPS), one of the primary sources of income data, greatly underreports distributions from DC plans and IRAs, posing an increasing problem for measuring retirement income in the future. The CPS and other data sources need to revise their measures of retirement income to account for periodic (irregular) distributions from DC plans and IRAs. |
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This trend is likely to continue among future retirees who have worked in the private sector. This article discusses the implications of those trends for the measurement of retirement income. We conclude that Census Bureau's Current Population Survey (CPS), one of the primary sources of income data, greatly underreports distributions from DC plans and IRAs, posing an increasing problem for measuring retirement income in the future. The CPS and other data sources need to revise their measures of retirement income to account for periodic (irregular) distributions from DC plans and IRAs.</description><identifier>ISSN: 0037-7910</identifier><identifier>PMID: 23113429</identifier><language>eng</language><publisher>United States: Social Security Administration</publisher><subject>Adult ; Age Distribution ; Aged ; Benefits ; Defined contribution plans ; Female ; Humans ; Income ; Income - statistics & numerical data ; Income - trends ; Individual retirement accounts ; Male ; Marital Status ; Middle Aged ; Old age ; Pensions ; Pensions - statistics & numerical data ; Population ; Private Sector - economics ; Private Sector - statistics & numerical data ; Private Sector - trends ; Retirees ; Retirement ; Retirement - economics ; Retirement - statistics & numerical data ; Retirement - trends ; Retirement income ; Social insurance ; Social Security - economics ; Surveys ; United States</subject><ispartof>Social security bulletin, 2012-08, Vol.72 (3), p.59-68</ispartof><rights>COPYRIGHT 2012 Social Security Administration</rights><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,780,784,27865,33612,36061</link.rule.ids><backlink>$$Uhttps://www.ncbi.nlm.nih.gov/pubmed/23113429$$D View this record in MEDLINE/PubMed$$Hfree_for_read</backlink></links><search><creatorcontrib>Anguelov, Chris E</creatorcontrib><creatorcontrib>Iams, Howard M</creatorcontrib><creatorcontrib>Purcell, Patrick J</creatorcontrib><title>Shifting income sources of the aged</title><title>Social security bulletin</title><addtitle>Soc Secur Bull</addtitle><description>Traditional defined benefit pensions, once a major source of retirement income, are increasingly giving way to tax-qualified defined contribution (DC) plans and individual retirement accounts (IRAs). This trend is likely to continue among future retirees who have worked in the private sector. This article discusses the implications of those trends for the measurement of retirement income. We conclude that Census Bureau's Current Population Survey (CPS), one of the primary sources of income data, greatly underreports distributions from DC plans and IRAs, posing an increasing problem for measuring retirement income in the future. 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This trend is likely to continue among future retirees who have worked in the private sector. This article discusses the implications of those trends for the measurement of retirement income. We conclude that Census Bureau's Current Population Survey (CPS), one of the primary sources of income data, greatly underreports distributions from DC plans and IRAs, posing an increasing problem for measuring retirement income in the future. The CPS and other data sources need to revise their measures of retirement income to account for periodic (irregular) distributions from DC plans and IRAs.</abstract><cop>United States</cop><pub>Social Security Administration</pub><pmid>23113429</pmid><tpages>10</tpages></addata></record> |
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| identifier | ISSN: 0037-7910 |
| ispartof | Social security bulletin, 2012-08, Vol.72 (3), p.59-68 |
| issn | 0037-7910 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_1284079014 |
| source | EconLit s plnými texty; Business Source Ultimate; ABI/INFORM Global; Social Science Premium Collection (Proquest) (PQ_SDU_P3); PAIS Index |
| subjects | Adult Age Distribution Aged Benefits Defined contribution plans Female Humans Income Income - statistics & numerical data Income - trends Individual retirement accounts Male Marital Status Middle Aged Old age Pensions Pensions - statistics & numerical data Population Private Sector - economics Private Sector - statistics & numerical data Private Sector - trends Retirees Retirement Retirement - economics Retirement - statistics & numerical data Retirement - trends Retirement income Social insurance Social Security - economics Surveys United States |
| title | Shifting income sources of the aged |
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