FINANCIAL STATUS--I

20世纪80年代对IRA和401（k）的巨大反应 计划表明，这些项目可能会产生非常实质性的影响， 未来美国老年人的经济状况。 有关建议是 扩大我们对这些计划的净储蓄效应的研究， 有针对性的个人退休储蓄计划的角色变化将如何 影响未来老年人的经济状况。 新数据源允许 评估各种退休支持模式之间的关系， 全面了解各种形式的财富， 关于收入历史和其他个人特征的数据。 而且， 个人退休储蓄已有十年经验 计划和某些情况下十年的贡献，这些计划。 的 总的目标是分析个人金融财富的积累， 住房财富、养老金资产和社会保障财富， 特别强调如何有针对性的退休储蓄计划， 401（k）计划影响家庭的其他组成部分，并受其影响 资产负债表 我们会考虑退休前的资产积累， 退休时的财务决策-例如， 福利-以及退休后的资产累积。 金融 这三个阶段中的每一个阶段的决定都直接影响到 当前和未来美国老年人的财务状况。 有五 具体目标：（1）记录财富水平分布的变化 以及美国老年人的财富构成， 个人退休储蓄，住房财富， 养老金和社会保障财富。(2)为了扩展我们之前的分析 401（k）储蓄和其他元素之间的相互作用 家庭资产负债表，特别是私人养老金计划资产， 社会保障财富。 (3)记录退休后的累积 个人退休资产和其他可遗赠的财富。 (4)到 通过模拟，总结个人退休储蓄的含义 对老年人经济状况的影响 退休 (5)探讨（一）证据之间的关系 家庭调查表明，401（k）储蓄并没有取代其他储蓄， 资产积累，以及（ii）来自总时间序列的证据 这表明个人储蓄率在这段时间内下降， 401（k）捐款增长最快。

The enormous response over the 1980s to the advent of IRAs and 401(k) plans suggests that such programs could have a very substantial effect on the economic status of future elderly Americans. The proposal is to extend our work on the net saving effect of these programs to consider how the changing role of targeted personal retirement saving plans will affect the financial status of future elderly. New data sources permits us to evaluate the relationships among all modes of retirement support, with comprehensive information on all forms of wealth and with detailed data on earning histories and other individual characteristic. And, there is now ten years of experience with personal retirement saving plans and some instances ten years of contributions to these plans. The general goal is to analyze the accumulation of personal financial wealth, housing wealth, pension assets, and Social Security wealth, with particular emphasis on how targeted retirement savings programs such as 401(k) plans affect and are affected by other components of the household balance sheet. We will consider asset accumulation before retirement, financial decisions at retirement-- for example annuitization of pension benefits-- as well as asset decumulation after retirement. Financial decisions in each of these three stages have a direct bearing on the financial status of current and future elderly Americans. There are five specific aims: (1) To document the changing distribution of wealth levels and wealth compositions for older Americans, particularly with respect to the relative importance of personal retirement saving, housing wealth, pensions, and Social Security wealth. (2) To extend our previous analysis of the interaction between saving in 401(k) saving and other elements of household balance sheet, particularly private pension plan asset and Social Security wealth. (3) To document the post-retirement decumulation of personal retirement assets and other bequeathable wealth. (4) To summarize the implications of personal retirement saving by simulating their effect on the financial status of the elderly at and after retirement. (5) To explore the relationship between (i) evidence from household surveys suggesting that 401(k) saving did not displace other asset accumulation, and (ii) evidence from aggregate time series suggesting that the personal saving rate declined during the period when 401(k) contributions rose most rapidly.