Recalibrating retirement spending and saving / edited by John Ameriks and Olivia S. Mitchell.

Format:

Book

Contributor:

Ameriks, John, 1968-

Mitchell, Olivia S.

Language:

English

Subjects (All):

Retirement income.

Physical Description:

xxii, 334 pages : illustrations ; 24 cm

Place of Publication:

Oxford ; New York : Oxford University Press, 2008.

Summary:

As Baby Boomers make the transition into their 60s, they are focusing policymakers' and the media's attention on how this generation will manage the retirement phase of its lifetime. This volume acknowledges that many, though not all, in this older cohort have accumulated substantial assets, so for them, the question is what will they do with what they have. The book provides a detailed exploration of how people entering retirement will deploy their accumulated assets in the near and long term to meet their myriad spending, investment, and other objectives.

This volume offers readers an invaluable study of emerging issues regarding assets and expectations on the verge of retirement, including uncertainty regarding life expectancy and morbidity. Chapter authors include prominent academics, policymakers, and legal, financial, and economic practitioners.

This new volume represents an invaluable addition to the Pension Research Council/Oxford University Press series. It will be especially useful for analysts and advisers seeking to help consumers position, invest, manage, and spend retirement assets; financial advisers and academics debating ways to effectively manage assets in retirement; and lawyers and policy experts evaluating regulation for the retirement payout marketplace.

Contents:

Part I Financial and Nonfinancial Retirement Circumstances

1 Managing Retirement Payouts: Positioning, Investing, and Spending Assets / John Ameriks, Olivia S. Mitchell 3

2 Is Retirement Being Remade? Developments in Labor Market Patterns at Older Ages / Sewin Chan, Ann Huff Stevens 13

3 Understanding Consumption in Retirement: Recent Developments / Erik Hurst 29

4 Net Worth and Housing Equity in Retirement / Todd Sinai, Nicholas Souleles 46

Part II Retirement Payouts: Balancing the Objectives

5 The Role of Individual Retirement Accounts in US Retirement Planning / Sarah Holden, Brian Reid 81

6 Retirement Distributions and the Bequest Motive / G. Victor Hallman 112

7 Rethinking Social Security Claiming in a 401(k) World / James I. Mahaney, Peter C. Carlson 141

8 Regulating Markets for Retirement Payouts: Solvency, Supervision, and Credibility / Phyllis C. Borzi, Martha Priddy Patterson 168

Part III Financial Products for Retirement Risk Management

9 Efficient Retirement Financial Strategies / William F. Sharpe, Jason S. Scott, John G. Watson 209

10 The Impact of Health Status and Out-of-Pocket Medical Expenditures on Annuity Valuation / Cassio M. Turra, Olivia S. Mitchell 227

11 Annuity Valuation, Long-Term Care, and Bequest Motives / John Ameriks, Andrew Caplin, Steven Laufer, Stijn Van Nieuwerburgh 251

12 Asset Allocation within Variable Annuities: The Impact of Guarantees / Moshe A. Milevsky, Vladyslav Kyrychenko 276

13 Tax Issues and Life Care Annuities / David Brazell, Jason Brown, Mark Warshawsky 295.

Notes:

Includes bibliographical references and index.

ISBN:

9780199549108

0199549109

OCLC:

213495278