Work

Pensions, Social Security, and the Distribution of Wealth

Year: 1997

Type: article

Abstract: This paper uses the Survey of Consumer Finances (SCF) to examine pension coverage, estimate Social Security and pension wealth for U.S. households in 1989 and 1992, and estimate the effects of pension wealth on non-pension net worth. As expected, the SCF data show that including pensions and Social Security in net worth makes the distribution more even. The analysis of the effects of pension wealth on other types of savings indicates that there is a negative effect of defined benefit plan coverage on non-pension net worth. Surprisingly, the effect of defined contribution plans, such as 401(k) plans is insignificant.

Source: Finance and Economics Discussion Series

DOI: 10.17016/feds.1997.55

Authors: Arthur B. Kennickell, Annika E. Sunden

Institutions: Federal Reserve, Federal Reserve Board of Governors, Stockholm University

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Reduced inequalities, No poverty

Open Access status: hybrid

OpenAlex ID: W2111428221

FWCI: 32.75

Cites: 28

Cited by: 66

Related to: 10