Social and Behavioral Sciences Commons^™

Puerto Rican Retired Teachers’ Perceptions About Their Financial Sufficiency, Rossana López León

Walden Dissertations and Doctoral Studies

In Puerto Rico, the Teachers’ Retirement System, which has a membership of around 36,000 retired public-school teachers, is currently facing major restructuring and budget cuts, as part of a larger restructuring of all government agencies to meet the economic emergency they were facing. The recent retirement system reforms were focused mainly on cutting benefits, such as medications, Christmas and summer bonuses, and the cost-of-living adjustment. The purpose of this study was to explore the perceptions of retired teachers regarding their financial sufficiency, and to identify their attitudes, beliefs, and opinions/feelings in light of their socioeconomic profile. The research question focused …

Puerto Rican Retired Teachers’ Perceptions About Their Financial Sufficiency, Rossana López León

Walden Dissertations and Doctoral Studies

In Puerto Rico, the Teachers’ Retirement System, which has a membership of around 36,000 retired public-school teachers, is currently facing major restructuring and budget cuts, as part of a larger restructuring of all government agencies to meet the economic emergency they were facing. The recent retirement system reforms were focused mainly on cutting benefits, such as medications, Christmas and summer bonuses, and the cost-of-living adjustment. The purpose of this study was to explore the perceptions of retired teachers regarding their financial sufficiency, and to identify their attitudes, beliefs, and opinions/feelings in light of their socioeconomic profile. The research question focused …

The Impact Of Career Experiences On Generativity And Postretirement Choices For Intelligence Community Baby Boomers, Marianne Victoria Kramer

Antioch University Full-Text Dissertations & Theses

This study focused on baby boomers and explored how a career with a mission-focus in the Intelligence Community influenced boomer generativity and subsequent choices after retirement. Baby boomers make-up the majority of the population that is retirement eligible today and have the benefit of a longer life expectancy commensurate with improvements in health care over the past century. Current retirement literature covers a range of options that redefine what retirement means today. This study employed a two-phase mixed method approach to investigate the characteristics and impacts of a mission-focused career, and to understand how such experiences impact postretirement opportunities and …

Research Summary: Does Front-Loading Taxation Increase Savings? Evidence From Roth 401(K) Introductions, Parker Gardner

Marriott Student Review

Can taxing retirement savings upfront increase buying power in retirement? BYU Marriott School of Management Dean Brigitte Madrian and fellow researches examine the impact of Roth 401(k)s on retirement savings and find that the introduction of Roth 401(k)s does not impact the dollar amount invested into 401(k)s.

Do Private Household Transfers To The Elderly Respond To Public Pension Benefits? Evidence From Rural China, Plamen Nikolov, Alan Adelman

Economics Faculty Scholarship

Aging populations in developing countries have spurred the introduction of public pension programs to preserve the standard of living for the elderly. The often-overlooked mechanism of intergenerational transfers, however, can dampen these intended policy effects, as adult children who make income contributions to their parents could adjust their behavior in response to changes in their parents’ income. Exploiting a unique policy intervention in China, we examine using a difference-in-difference-in-differences (DDD) approach how a new pension program impacts inter vivos transfers. We show that pension benefits lower the propensity of adult children to transfer income to elderly parents in the context …

Rethinking Retirement For The 21st Century, Stephen C. Russo

Major Papers

Canada’s labour force has been gradually growing older in recent decades. An aging labour force creates significant problems for the country and the future growth of our economy. With an aging labour force, comes the need to start rethinking how Canadians look at retirement in the 21^st century and how both the government and private sector can contribute solutions to adapting to an older workforce. This problem is not unique to Canada, most of the industrialized west has been or will begin to experience the same demographic shift as we are in Canada. The main challenge this paper examines …

Patterns Of Dissaving Among U.S. Elders, Deborah Gray

Graduate Doctoral Dissertations

This paper examined patterns of decumulation and the role that health events and marital disruption play in forming those patterns. Study data were drawn from six biennial waves of the HRS (1998 - 2008), and merged RAND HRS data files for the period 1998 - 2008. The a priori expectation was that there will be variation in drawdown strategies households employ.

Findings suggest that patterns of dissaving are heterogeneous. The five most prevalent patterns were discussed. Households predominantly transitioned between oversaving and overspending. Households are expected to have a goal of on target spending therefore the observed cycle's dissaving will …

Financial Security Scorecard: A State-By-State Analysis Of Economic Pressures Facing Future Retirees, Christian Weller, Nari Rhee, Carolyn Arcand

Christian Weller

As Americans increasingly worry about their retirement prospects, states play an important and growing role in retirement security policy. States already manage long-term care programs for the elderly through Medicaid. Concerned about the impact of future elder poverty on state and local budgets and their local economies, a number of states are exploring the creation of low-cost and low-risk retirement savings plans for private sector workers who lack access to pensions or 401(k)s on the job. Some states have developed programs to help older workers find work.

This report presents the Financial Security Scorecard, designed to inform state-level stakeholders and …

Financial Security Scorecard: A State-By-State Analysis Of Economic Pressures Facing Future Retirees, Christian Weller, Nari Rhee, Carolyn Arcand

Public Policy and Public Affairs Faculty Publication Series

As Americans increasingly worry about their retirement prospects, states play an important and growing role in retirement security policy. States already manage long-term care programs for the elderly through Medicaid. Concerned about the impact of future elder poverty on state and local budgets and their local economies, a number of states are exploring the creation of low-cost and low-risk retirement savings plans for private sector workers who lack access to pensions or 401(k)s on the job. Some states have developed programs to help older workers find work.

This report presents the Financial Security Scorecard, designed to inform state-level stakeholders and …

Fact Sheet: What Influences Plans To Work After Ages 62 And 65?, Maximiliane E. Szinovacz, Gerontology Institute, University Of Massachusetts Boston

Gerontology Institute Publications

Timing of retirement and, implicitly, plans to work in later life have great policy relevance. They affect Social Security expenditures, employers’ pension expenditures, as well as labor force supply and demand. In light of the recent recession, it is particularly important to explore whether economic downturns and workers’ financial status influence their later-life work plans. To answer this question, we analyzed data from the nationally representative Health and Retirement Study (HRS), which included questions about expectations to work full-time after age 62 and age 65.

Cpf Life: Managing Longevity Risk As Singaporeans Live Longer, Singapore Management University

Perspectives@SMU

To combat the possibility that retirees might outlive their assets, Singapore’s Central Provident Fund (CPF) – the national compulsory savings and social security scheme – made the bold move of mandating annuitisation. This followed the findings of a 2007 government study examining how CPF might respond to an increasing life expectancy as the country's baby boomer generation enters retirement.

Estimating The Effects Of Changing Social Security Benefit Formulas, Gary S. Fields, Olivia S. Mitchell

Gary S Fields

[Excerpt] The U.S. Social Security system faces serious financial difficulties in both the short and the long run. The short-run problem is that the system has very meager financial reserves. In the long run—after the year 2010, when the post-World-War-II baby-boom generation reaches retirement age—the financial problems of Social Security will intensify because of population aging and the consequent decline in the ratio of workers to retirees.

These problems have led to proposed reforms aimed at assuring the financial stability of the system. The question addressed here is: what effects would these reforms have on three variables—retirement ages, retirement incomes, …

Retirement And High Level Human Capital, Irving Gershenberg

Gerontology Institute Publications

Given that demographic trends in economically advanced industrial countries such as our own continue to shift toward increasingly older, formally retired populations, we need to find ways to keep more of this older retired population productive. Economists and others differ in their estimation regarding the ability and/or willingness on part of the retired to retain, let alone utilize the know-how, the human capital accumulated prior to retirement. This is as true for those who have spent their work life engaged in producing and communicating new ideas and synthesizing and diffusing what is known, those who have accumulated what I term …