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Full-Text Articles in Retirement Security Law
How Does Dipping Into Your Pension Affect Your Retirement Wealth?, Gary V. Engelhardt
How Does Dipping Into Your Pension Affect Your Retirement Wealth?, Gary V. Engelhardt
Center for Policy Research
Although pensions, both public and private, are intended to provide income during retirement, a growing number of American workers receive part or all their employer-provided pensions in the form of a cash settlement, called a lump-sum distribution, when they change jobs. They have many choices of what to do with that money: for example, they can roll it over into an Individual Retirement Account (IRA), spend the money or pay or debt, transfer it to the pension plan of a new employer, or even leave the money with the old employer's pension plan. Policymakers are concerned that workers who spend …
Pro-Work Policy Proposals For Older Americans In The 21st Century, Richard V. Burkhauser, Joseph F. Quinn
Pro-Work Policy Proposals For Older Americans In The 21st Century, Richard V. Burkhauser, Joseph F. Quinn
Center for Policy Research
Reports that the Social Security Trust Fund will be exhausted sometime in the early part of the next century reinforce the need to make retirement policy in the United States more accommodating for those who want to work. While there is general agreement that disincentives to work at older ages in both Social Security and employer pension plans played an important role in the dramatic drop in retirement age from 1945 through 1985, skepticism exists over the ability of policy changes to both stop this trend and increase work at older ages. In this policy brief we summarize how government …