What the Stock Market Decline Means for the Financial Security and Retirement Choices of the Near-Retirement Population
What the Stock Market Decline Means for the Financial Security and Retirement Choices of the Near-Retirement Population
复制标题
股市下跌对近退休人群的财务安全和退休选择意味着什么
DOI：
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发表时间：
2009
期刊：
影响因子：
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通讯作者：
Nahid Tabatabai
中科院分区：
文献类型：
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作者：
Alan L. Gustman;Thomas L. Steinmeier;Nahid Tabatabai
本文调查了当前经济衰退对近退休年龄人口的影响。健康与退休研究的数据显示，那些接近退休年龄的人（2006年婴儿潮早期出生的53至58岁的人）只有15.2%的财富是直接或固定缴款计划或个人退休账户。他们对股市下跌的脆弱性受到其社会保障财富的高价值的限制，社会保障财富占婴儿潮早期出生的人家庭总财富的四分之一以上。此外，他们的固定缴款计划仍然不成熟，所以他们的固定收益计划占他们养老金财富的65%。结构性退休模型的模拟表明，股市下跌将导致婴儿潮早期出生的人平均推迟1.5个月退休。健康和退休研究数据还显示，那些接近退休的人不太可能受到房价下跌的巨大或立即影响。最后，我们讨论了那些利用劳动力市场政策来增加老年工人就业的人所面临的重要困难。
This paper investigates the effect of the current recession on the near-retirement age population. Data from the Health and Retirement Study suggest that those approaching retirement age (early boomers ages 53 to 58 in 2006) have only 15.2 percent of their wealth in stocks, held directly or in defined contribution plans or IRAs. Their vulnerability to a stock market decline is limited by the high value of their Social Security wealth, which represents over a quarter of the total household wealth of the early boomers. In addition, their defined contribution plans remain immature, so their defined benefit plans represent sixty five percent of their pension wealth. Simulations with a structural retirement model suggest the stock market decline will lead the early boomers to postpone their retirement by only 1.5 months on average. Health and Retirement Study data also show that those approaching retirement are not likely to be greatly or immediately affected by the decline in housing prices. We end with a discussion of important difficulties facing those who would use labor market policies to increase the employment of older workers.