David Blitzstein, Olivia S. Mitchell, and Stephen P. Utkus (eds)
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199204656
- eISBN:
- 9780191603822
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199204659.001.0001
- Subject:
- Economics and Finance, Financial Economics
This book posits that retirement security is the central policy concern of our time. A generation of ‘Baby Boomers’ is on the verge of retirement, yet pension systems confront crushing challenges, ...
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This book posits that retirement security is the central policy concern of our time. A generation of ‘Baby Boomers’ is on the verge of retirement, yet pension systems confront crushing challenges, and governments often appear confused about which direction they should move in. The book addresses the question: ‘What are the new risks and rewards in pensions, and what paths can stakeholders chose to solve these problems?’ In doing so, it explores three aspects of the evolution of risk and reward-sharing in retirement in order to offer guidance to pension fiduciaries, plan participants, and policymakers. First, it focuses on new perspectives for assessing retirement risks and rewards. Second, it evaluates efforts to insure retirement plans. Lastly, it provides several new strategies for managing retirement system risk.Less
This book posits that retirement security is the central policy concern of our time. A generation of ‘Baby Boomers’ is on the verge of retirement, yet pension systems confront crushing challenges, and governments often appear confused about which direction they should move in. The book addresses the question: ‘What are the new risks and rewards in pensions, and what paths can stakeholders chose to solve these problems?’ In doing so, it explores three aspects of the evolution of risk and reward-sharing in retirement in order to offer guidance to pension fiduciaries, plan participants, and policymakers. First, it focuses on new perspectives for assessing retirement risks and rewards. Second, it evaluates efforts to insure retirement plans. Lastly, it provides several new strategies for managing retirement system risk.
David Blitzstein, Olivia S. Mitchell, and Stephen P. Utkus
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199204656
- eISBN:
- 9780191603822
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199204659.003.0001
- Subject:
- Economics and Finance, Financial Economics
An aging-population tsunami is sweeping the world, and capital markets have buffeted pension plans while retiree healthcare care costs rise without letup. This coincidence of shocks marks a crucial ...
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An aging-population tsunami is sweeping the world, and capital markets have buffeted pension plans while retiree healthcare care costs rise without letup. This coincidence of shocks marks a crucial moment for global retirement security, since public and private retirement systems everywhere have fared poorly just as the massive Baby Boom generation moves into retirement. Clearly, urgent efforts are needed to enhance risk management for public and private pension systems around the world. This book explores three aspects of the evolution of risk and reward-sharing in retirement to offer guidance to pension fiduciaries, plan participants, and policymakers. First, it focuses on new perspectives for assessing retirement risks and rewards. Second, it evaluates efforts to insure retirement plans. Lastly, it provides several new strategies for managing retirement system risk. This chapter previews the remarkable findings by contributors to this volume.Less
An aging-population tsunami is sweeping the world, and capital markets have buffeted pension plans while retiree healthcare care costs rise without letup. This coincidence of shocks marks a crucial moment for global retirement security, since public and private retirement systems everywhere have fared poorly just as the massive Baby Boom generation moves into retirement. Clearly, urgent efforts are needed to enhance risk management for public and private pension systems around the world. This book explores three aspects of the evolution of risk and reward-sharing in retirement to offer guidance to pension fiduciaries, plan participants, and policymakers. First, it focuses on new perspectives for assessing retirement risks and rewards. Second, it evaluates efforts to insure retirement plans. Lastly, it provides several new strategies for managing retirement system risk. This chapter previews the remarkable findings by contributors to this volume.
John Ameriks and Olivia S. Mitchell (eds)
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199549108
- eISBN:
- 9780191720734
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199549108.001.0001
- Subject:
- Business and Management, Pensions and Pension Management
As Baby Boomers are now in their 60s, policymaker and media attention is becoming focused on how this generation will manage during its long period in retirement. This book acknowledges that many, ...
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As Baby Boomers are now in their 60s, policymaker and media attention is becoming focused on how this generation will manage during its long period in retirement. This book acknowledges that many, though not all, in this age group have accumulated substantial assets, so they are now asking themselves what they will do with what they have. The book explores 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. The book studies emerging issues regarding assets and expectations on the verge of retirement, including uncertainty regarding life expectancy and morbidity. It is composed of chapters from contributors including a Nobel Laureate and a wonderful mix of academics and practitioners from the legal, financial, and economic fields.Less
As Baby Boomers are now in their 60s, policymaker and media attention is becoming focused on how this generation will manage during its long period in retirement. This book acknowledges that many, though not all, in this age group have accumulated substantial assets, so they are now asking themselves what they will do with what they have. The book explores 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. The book studies emerging issues regarding assets and expectations on the verge of retirement, including uncertainty regarding life expectancy and morbidity. It is composed of chapters from contributors including a Nobel Laureate and a wonderful mix of academics and practitioners from the legal, financial, and economic fields.
John Ameriks and Olivia S. Mitchell
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199549108
- eISBN:
- 9780191720734
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199549108.003.0001
- Subject:
- Business and Management, Pensions and Pension Management
As Baby Boomers move into their 60s, they are focusing policymaker and media attention on how their generation will manage the retirement phase of their lifetime. This book acknowledges that many, ...
More
As Baby Boomers move into their 60s, they are focusing policymaker and media attention on how their generation will manage the retirement phase of their lifetime. This book 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? It provides a detailed exploration of how people entering retirement will deploy their accumulated assets in the near and long term, so to best meet their myriad spending, investment, and other objectives.Less
As Baby Boomers move into their 60s, they are focusing policymaker and media attention on how their generation will manage the retirement phase of their lifetime. This book 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? It provides a detailed exploration of how people entering retirement will deploy their accumulated assets in the near and long term, so to best meet their myriad spending, investment, and other objectives.
Sewin Chan and Ann Huff Stevens
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199549108
- eISBN:
- 9780191720734
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199549108.003.0002
- Subject:
- Business and Management, Pensions and Pension Management
This chapter investigates non-traditional work and retirement patterns among older individuals in the Health and Retirement Study. It first reviews the evidence on retirements that initially involve ...
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This chapter investigates non-traditional work and retirement patterns among older individuals in the Health and Retirement Study. It first reviews the evidence on retirements that initially involve bridge jobs or some form of partial retirement. It then looks at analysis on retirement reversals in which individuals resume or increase work activity following a period of retirement. Almost one third of the individuals in the sample who are ever partially or fully retired make at least one transition from more to less retired during the period of observation. The chapter also explores the characteristics of individuals making such transitions.Less
This chapter investigates non-traditional work and retirement patterns among older individuals in the Health and Retirement Study. It first reviews the evidence on retirements that initially involve bridge jobs or some form of partial retirement. It then looks at analysis on retirement reversals in which individuals resume or increase work activity following a period of retirement. Almost one third of the individuals in the sample who are ever partially or fully retired make at least one transition from more to less retired during the period of observation. The chapter also explores the characteristics of individuals making such transitions.
Viviana A. Zelizer
- Published in print:
- 2010
- Published Online:
- October 2017
- ISBN:
- 9780691139364
- eISBN:
- 9781400836253
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691139364.003.0004
- Subject:
- Sociology, Economic Sociology
This chapter considers the impact of children's changing economic and sentimental value on turn-of-the-twentieth-century baby markets, including profound transformations in the sale and exchange ...
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This chapter considers the impact of children's changing economic and sentimental value on turn-of-the-twentieth-century baby markets, including profound transformations in the sale and exchange value of “priceless” children in foster care and adoption. Why is it that today's infertile parents eagerly offer thousands of dollars to obtain a baby, but in the late nineteenth century unwanted babies found no buyers? The chapter traces the late-twentieth-century emergence of a controversial surrogacy market. It argues that the socially and morally problematic nature of the surrogacy baby market is not primarily that sacred items are “placed in a contract and sealed by money,” nor even that surrogacy is rigged against poor women. More significantly, surrogacy unequivocally reveals our discriminatory valuation of children. Babies are made on “special order” because children already available on the adoption market are not “good” enough—too old, too sick, or of the wrong skin color. In this respect, surrogacy is only a technical innovation. In fact, it is just the latest stage of a very special adoption market that began in the 1920s.Less
This chapter considers the impact of children's changing economic and sentimental value on turn-of-the-twentieth-century baby markets, including profound transformations in the sale and exchange value of “priceless” children in foster care and adoption. Why is it that today's infertile parents eagerly offer thousands of dollars to obtain a baby, but in the late nineteenth century unwanted babies found no buyers? The chapter traces the late-twentieth-century emergence of a controversial surrogacy market. It argues that the socially and morally problematic nature of the surrogacy baby market is not primarily that sacred items are “placed in a contract and sealed by money,” nor even that surrogacy is rigged against poor women. More significantly, surrogacy unequivocally reveals our discriminatory valuation of children. Babies are made on “special order” because children already available on the adoption market are not “good” enough—too old, too sick, or of the wrong skin color. In this respect, surrogacy is only a technical innovation. In fact, it is just the latest stage of a very special adoption market that began in the 1920s.
Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo (eds)
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.001.0001
- Subject:
- Business and Management, Pensions and Pension Management
As the leading edge of the “Baby Boom” generation in the United States reaches sixty years of age, members of this unusually large cohort born between 1946 and 1966 are poised to redefine retirement ...
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As the leading edge of the “Baby Boom” generation in the United States reaches sixty years of age, members of this unusually large cohort born between 1946 and 1966 are poised to redefine retirement — just as they have restructured educational, housing, and labor markets previously. Looking ahead, their numbers and energy are sure to have a major impact on national pensions, healthcare, and social safety nets. This book notes that “Boomers” will be better off than their predecessors in many ways, having benefited from the long run-up in housing prices, dramatic improvements in healthcare, and the expanding economy. On the other hand, the generation's sheer size will surely squeeze resources and require new approaches to retirement risk management. On average, the Boomers are in better financial and physical health than prior cohorts, and they can be anticipated to fare better than current retirees in absolute terms. Yet the distribution of retiree income and wealth will be less equal than in earlier years, and in relative terms, many Boomers will be less well off than their forebears. The chapters in this book use many invaluable models and datasets, including the incomparable Health and Retirement Study (HRS) which affords unique insights into the status of mature adults surveyed at the same age and hence same point in their life cycles, but at three different time periods. Chapter contributors offer new evidence about prospects for health and income during retirement, as well as pensions and housing equity, health, portfolio allocation, and financial literacy.Less
As the leading edge of the “Baby Boom” generation in the United States reaches sixty years of age, members of this unusually large cohort born between 1946 and 1966 are poised to redefine retirement — just as they have restructured educational, housing, and labor markets previously. Looking ahead, their numbers and energy are sure to have a major impact on national pensions, healthcare, and social safety nets. This book notes that “Boomers” will be better off than their predecessors in many ways, having benefited from the long run-up in housing prices, dramatic improvements in healthcare, and the expanding economy. On the other hand, the generation's sheer size will surely squeeze resources and require new approaches to retirement risk management. On average, the Boomers are in better financial and physical health than prior cohorts, and they can be anticipated to fare better than current retirees in absolute terms. Yet the distribution of retiree income and wealth will be less equal than in earlier years, and in relative terms, many Boomers will be less well off than their forebears. The chapters in this book use many invaluable models and datasets, including the incomparable Health and Retirement Study (HRS) which affords unique insights into the status of mature adults surveyed at the same age and hence same point in their life cycles, but at three different time periods. Chapter contributors offer new evidence about prospects for health and income during retirement, as well as pensions and housing equity, health, portfolio allocation, and financial literacy.
David W. DeLong
- Published in print:
- 2004
- Published Online:
- September 2007
- ISBN:
- 9780195170979
- eISBN:
- 9780199789719
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195170979.001.0001
- Subject:
- Business and Management, Knowledge Management
This book shows how the cost of losing human knowledge in a technology-intensive world seriously affects organizational success. It explains what leaders must do to retain critical know-how as ...
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This book shows how the cost of losing human knowledge in a technology-intensive world seriously affects organizational success. It explains what leaders must do to retain critical know-how as millions of aging baby boomers begin retiring from the workforce in the next decade. This aging workforce will produce an unprecedented skills shortage in many sectors. Particularly at risk is the tacit or experiential knowledge needed to maintain high levels of performance in today's complex technological, scientific, and management fields. The book shows how this threatened loss of intellectual capital or “brain drain” can be addressed with increased attention to workforce planning, knowledge management, and knowledge retention initiatives. It provides a framework and action plan to help managers tackle the interdependent challenges of increased retirements, more competitive recruiting, and greater turnover among mid-career employees created by changing workforce demographics.Less
This book shows how the cost of losing human knowledge in a technology-intensive world seriously affects organizational success. It explains what leaders must do to retain critical know-how as millions of aging baby boomers begin retiring from the workforce in the next decade. This aging workforce will produce an unprecedented skills shortage in many sectors. Particularly at risk is the tacit or experiential knowledge needed to maintain high levels of performance in today's complex technological, scientific, and management fields. The book shows how this threatened loss of intellectual capital or “brain drain” can be addressed with increased attention to workforce planning, knowledge management, and knowledge retention initiatives. It provides a framework and action plan to help managers tackle the interdependent challenges of increased retirements, more competitive recruiting, and greater turnover among mid-career employees created by changing workforce demographics.
Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0002
- Subject:
- Business and Management, Pensions and Pension Management
This chapter compares retirement expectations, retirement patterns, and expectations of future work across different cohorts of the Health and Retirement Study, including the new cohort of Baby ...
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This chapter compares retirement expectations, retirement patterns, and expectations of future work across different cohorts of the Health and Retirement Study, including the new cohort of Baby Boomers currently in their late fifties. The Boomers appear more strongly attached to the labor force as they enter their retirement years than were earlier cohorts at the same age. Compared to the preceding birth cohort, they expect to retire nearly one year later, they are 14% more likely to expect to be working full-time at age 65, and they are 21% more likely to expect to work in the future if they are not currently working. These differences are not entirely explained by cohort differences in socioeconomic status, pension incentives, demographics, or health. In all, Baby Boomers may have stronger preferences for work than previous cohorts.Less
This chapter compares retirement expectations, retirement patterns, and expectations of future work across different cohorts of the Health and Retirement Study, including the new cohort of Baby Boomers currently in their late fifties. The Boomers appear more strongly attached to the labor force as they enter their retirement years than were earlier cohorts at the same age. Compared to the preceding birth cohort, they expect to retire nearly one year later, they are 14% more likely to expect to be working full-time at age 65, and they are 21% more likely to expect to work in the future if they are not currently working. These differences are not entirely explained by cohort differences in socioeconomic status, pension incentives, demographics, or health. In all, Baby Boomers may have stronger preferences for work than previous cohorts.
Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0003
- Subject:
- Business and Management, Pensions and Pension Management
Assessing savings sufficiency requires detailed information on both potential retirement benefits and the characteristics of a national sample of older citizens. The analysis uses the Health and ...
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Assessing savings sufficiency requires detailed information on both potential retirement benefits and the characteristics of a national sample of older citizens. The analysis uses the Health and Retirement Survey and the New Beneficiary Survey linked to administrative records to assess and compare the saving adequacy of two different cohorts. Specifically, the two groups are compared in terms of their annuitized net wealth (ANW) and ANW relative to the poverty line, as well as the near-poverty line. Results show that the mean wealth levels of both new retiree cohorts rose over time (by about two-thirds for wealth and by half for ANW), but the chance of meeting social adequacy targets has also risen. This shortfall is concentrated increasingly among non-married persons, and those with low human capital and labor force attachment. In other words, vulnerability during the working life appears to persist into retirement.Less
Assessing savings sufficiency requires detailed information on both potential retirement benefits and the characteristics of a national sample of older citizens. The analysis uses the Health and Retirement Survey and the New Beneficiary Survey linked to administrative records to assess and compare the saving adequacy of two different cohorts. Specifically, the two groups are compared in terms of their annuitized net wealth (ANW) and ANW relative to the poverty line, as well as the near-poverty line. Results show that the mean wealth levels of both new retiree cohorts rose over time (by about two-thirds for wealth and by half for ANW), but the chance of meeting social adequacy targets has also risen. This shortfall is concentrated increasingly among non-married persons, and those with low human capital and labor force attachment. In other words, vulnerability during the working life appears to persist into retirement.
Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0004
- Subject:
- Business and Management, Pensions and Pension Management
This chapter assesses Baby Boom retirement prospects, comparing the outlook for this cohort with experiences of previous generations. The impact of aging is assessed using the Social Security's Model ...
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This chapter assesses Baby Boom retirement prospects, comparing the outlook for this cohort with experiences of previous generations. The impact of aging is assessed using the Social Security's Model of Income in the Near Term and project retirement incomes for a representative group of individuals born between 1926 and 1965. Results indicate that Baby Boomers can expect to have higher real incomes and lower poverty rates in retirement than current retirees. However, the gains in family income are not equally distributed: for instance, never-married Boomer women will be relatively better off while high school Boomer dropouts will be relatively worse off than current retirees. Boomers' post-retirement incomes are not predicted to rise as much as pre-retirement incomes. Additionally, certain population subgroups will remain economically vulnerable, including divorced women, never-married men, Hispanics, high school dropouts, those with weak labor force attachments, and those with the lowest lifetime earnings.Less
This chapter assesses Baby Boom retirement prospects, comparing the outlook for this cohort with experiences of previous generations. The impact of aging is assessed using the Social Security's Model of Income in the Near Term and project retirement incomes for a representative group of individuals born between 1926 and 1965. Results indicate that Baby Boomers can expect to have higher real incomes and lower poverty rates in retirement than current retirees. However, the gains in family income are not equally distributed: for instance, never-married Boomer women will be relatively better off while high school Boomer dropouts will be relatively worse off than current retirees. Boomers' post-retirement incomes are not predicted to rise as much as pre-retirement incomes. Additionally, certain population subgroups will remain economically vulnerable, including divorced women, never-married men, Hispanics, high school dropouts, those with weak labor force attachments, and those with the lowest lifetime earnings.
Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0005
- Subject:
- Business and Management, Pensions and Pension Management
This chapter uses the Health and Retirement Study to describe the relationship between work and health for older persons by age. It examines patterns within a given cross-section and also trends in ...
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This chapter uses the Health and Retirement Study to describe the relationship between work and health for older persons by age. It examines patterns within a given cross-section and also trends in health at ages 51-56 between 1992 and 2004. Most retirement occurs well before the onset of work-limiting disability, leaving a large reserve of potential for longer worklives. Baby Boomers will likely have to draw on this reserve, yet its health is not demonstrably better than that of persons born a dozen years earlier. Nevertheless, advances in medical care for health conditions that most 51-56 year olds have not yet encountered may still yield better health at older ages for the Boomer cohort.Less
This chapter uses the Health and Retirement Study to describe the relationship between work and health for older persons by age. It examines patterns within a given cross-section and also trends in health at ages 51-56 between 1992 and 2004. Most retirement occurs well before the onset of work-limiting disability, leaving a large reserve of potential for longer worklives. Baby Boomers will likely have to draw on this reserve, yet its health is not demonstrably better than that of persons born a dozen years earlier. Nevertheless, advances in medical care for health conditions that most 51-56 year olds have not yet encountered may still yield better health at older ages for the Boomer cohort.
Joyce Manchester, David Weaver, and Kevin Whitman
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0006
- Subject:
- Business and Management, Pensions and Pension Management
The Social Security Administration's simulation model known as MINT (Modeling Income in the Near Term) is used to examine the projected health and economic status of Baby Boomers and their parents ...
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The Social Security Administration's simulation model known as MINT (Modeling Income in the Near Term) is used to examine the projected health and economic status of Baby Boomers and their parents during retirement. Projections indicate that boomers will enjoy higher levels of economic well-being and health than their parents, yet the distribution of income and wealth is more unequal among Boomers. For example, the ratio of income to poverty-level income grows three times faster at the 90th percentile than at the 10th percentile. Health problems are concentrated among persons of lower economic status in both generations, but the degree of concentration does not increase across generations.Less
The Social Security Administration's simulation model known as MINT (Modeling Income in the Near Term) is used to examine the projected health and economic status of Baby Boomers and their parents during retirement. Projections indicate that boomers will enjoy higher levels of economic well-being and health than their parents, yet the distribution of income and wealth is more unequal among Boomers. For example, the ratio of income to poverty-level income grows three times faster at the 90th percentile than at the 10th percentile. Health problems are concentrated among persons of lower economic status in both generations, but the degree of concentration does not increase across generations.
Joyce Manchester, David Weaver, and Kevin Whitman
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0007
- Subject:
- Business and Management, Pensions and Pension Management
This chapter focuses on how Baby Boomers compare to prior groups on the verge of retirement. Specifically, it evaluates the stock of health which Early Boomers bring to retirement and compares it to ...
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This chapter focuses on how Baby Boomers compare to prior groups on the verge of retirement. Specifically, it evaluates the stock of health which Early Boomers bring to retirement and compares it to two prior cohorts at the same point in their life cycles. In the Health and Retirement Study, it appears that Boomers on the verge of retirement are in poorer health than their counterparts a dozen years ago. Boomers indicate they have relatively more difficulty with everyday physical tasks in addition to having more pain, more chronic conditions, more drinking and psychiatric problems, than their HRS earlier counterparts.Less
This chapter focuses on how Baby Boomers compare to prior groups on the verge of retirement. Specifically, it evaluates the stock of health which Early Boomers bring to retirement and compares it to two prior cohorts at the same point in their life cycles. In the Health and Retirement Study, it appears that Boomers on the verge of retirement are in poorer health than their counterparts a dozen years ago. Boomers indicate they have relatively more difficulty with everyday physical tasks in addition to having more pain, more chronic conditions, more drinking and psychiatric problems, than their HRS earlier counterparts.
Helen G. Levy
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0008
- Subject:
- Business and Management, Pensions and Pension Management
This chapter asks how well Baby Boomers are protected against later-life health shocks. While exposure to such shocks is relatively high, the realization of risk appears unlikely and relatively ...
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This chapter asks how well Baby Boomers are protected against later-life health shocks. While exposure to such shocks is relatively high, the realization of risk appears unlikely and relatively little wealth is at risk. Almost one-quarter of the original Health and Retirement Study cohort was uninsured at some point in the six-year window before Medicare eligibility, but only 2% had an uninsured hospitalization in this window. Moreover, the amount at stake for the median uninsured person is relatively low. Since many in this age bracket approach old age in poor financial shape, lack of assets may be a larger problem than lack of health insurance. Policies aimed at preventing poverty among the elderly may be more important than policies to expand health insurance coverage among those on the verge of retirement.Less
This chapter asks how well Baby Boomers are protected against later-life health shocks. While exposure to such shocks is relatively high, the realization of risk appears unlikely and relatively little wealth is at risk. Almost one-quarter of the original Health and Retirement Study cohort was uninsured at some point in the six-year window before Medicare eligibility, but only 2% had an uninsured hospitalization in this window. Moreover, the amount at stake for the median uninsured person is relatively low. Since many in this age bracket approach old age in poor financial shape, lack of assets may be a larger problem than lack of health insurance. Policies aimed at preventing poverty among the elderly may be more important than policies to expand health insurance coverage among those on the verge of retirement.
Chris Cunningham, Gary V. Engelhardt, and Anil Kumar
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0010
- Subject:
- Business and Management, Pensions and Pension Management
Pension wealth plays a critical role in older individuals' retirement behavior and financial security. Accordingly, the magnitude and distribution of pension wealth is important in the ongoing debate ...
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Pension wealth plays a critical role in older individuals' retirement behavior and financial security. Accordingly, the magnitude and distribution of pension wealth is important in the ongoing debate about whether Baby Boomers have adequate retirement savings. This chapter summarizes the results of a long-term effort to develop an improved calculator to measure defined contribution pension wealth of older Americans, implemented using the Health and Retirement Study. Results show that pension wealth resulting from voluntary saving (and accrued earnings thereon) comprises half of DC pension wealth calculated for HRS respondents with matched summary plan descriptions. These are lower mean estimates of DC pension wealth than previously found, mainly resulting from changes for the wealthiest tail of the pension-wealth distribution. The findings imply that researchers must think more carefully about the economic assumptions underlying pension measures.Less
Pension wealth plays a critical role in older individuals' retirement behavior and financial security. Accordingly, the magnitude and distribution of pension wealth is important in the ongoing debate about whether Baby Boomers have adequate retirement savings. This chapter summarizes the results of a long-term effort to develop an improved calculator to measure defined contribution pension wealth of older Americans, implemented using the Health and Retirement Study. Results show that pension wealth resulting from voluntary saving (and accrued earnings thereon) comprises half of DC pension wealth calculated for HRS respondents with matched summary plan descriptions. These are lower mean estimates of DC pension wealth than previously found, mainly resulting from changes for the wealthiest tail of the pension-wealth distribution. The findings imply that researchers must think more carefully about the economic assumptions underlying pension measures.
Annamaria Lusardi and Jason Beeler
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0013
- Subject:
- Business and Management, Pensions and Pension Management
This chapter compares the saving behavior of Early Baby Boomers (age 51-56 in 2004) and its predecessor cohort in the Health and Retirement Study (age 51-56 in 1992). Results indicate that the ...
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This chapter compares the saving behavior of Early Baby Boomers (age 51-56 in 2004) and its predecessor cohort in the Health and Retirement Study (age 51-56 in 1992). Results indicate that the Boomers accumulated more wealth than the previous cohort, largely because they benefited from rising house prices. Nevertheless, some Boomer families are less well off, particularly those headed by those with low education and low income, and minorities. The survey also shows that many Boomers have not planned for retirement, and like the earlier cohort, nonplanners have much less wealth than planners. In other words, lack of planning is tantamount to lack of saving, irrespective of the economic changes observed over the last dozen years.Less
This chapter compares the saving behavior of Early Baby Boomers (age 51-56 in 2004) and its predecessor cohort in the Health and Retirement Study (age 51-56 in 1992). Results indicate that the Boomers accumulated more wealth than the previous cohort, largely because they benefited from rising house prices. Nevertheless, some Boomer families are less well off, particularly those headed by those with low education and low income, and minorities. The survey also shows that many Boomers have not planned for retirement, and like the earlier cohort, nonplanners have much less wealth than planners. In other words, lack of planning is tantamount to lack of saving, irrespective of the economic changes observed over the last dozen years.
Julia L. Coronado, Dean Maki, and Ben Weitzer
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0014
- Subject:
- Business and Management, Pensions and Pension Management
This chapter evaluates housing wealth and its potential role in Baby Boomers' retirement wellbeing. The Health and Retirement Survey is used to compare Boomers' wealth position to that of the ...
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This chapter evaluates housing wealth and its potential role in Baby Boomers' retirement wellbeing. The Health and Retirement Survey is used to compare Boomers' wealth position to that of the immediately preceding cohort, just prior to retirement. Results show that Boomers have more valuable homes but have also borrowed more against them, so they have a similar fraction of assets allocated to home equity as their predecessors. Unlike prior studies, this chapter shows that people do view housing as a source of wealth that can help them finance their retirement needs. Indeed, a substantial fraction of older households do move and appear to liquidate some home equity in the process. Consequently, some of the recent home equity extraction may be related to the aging of the population rather than a cyclical response to rapid house appreciation.Less
This chapter evaluates housing wealth and its potential role in Baby Boomers' retirement wellbeing. The Health and Retirement Survey is used to compare Boomers' wealth position to that of the immediately preceding cohort, just prior to retirement. Results show that Boomers have more valuable homes but have also borrowed more against them, so they have a similar fraction of assets allocated to home equity as their predecessors. Unlike prior studies, this chapter shows that people do view housing as a source of wealth that can help them finance their retirement needs. Indeed, a substantial fraction of older households do move and appear to liquidate some home equity in the process. Consequently, some of the recent home equity extraction may be related to the aging of the population rather than a cyclical response to rapid house appreciation.
Daniel M. Ogilvie
- Published in print:
- 2004
- Published Online:
- April 2010
- ISBN:
- 9780195157468
- eISBN:
- 9780199894024
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195157468.003.0007
- Subject:
- Psychology, Cognitive Psychology
This chapter focuses on J. M. Barrie's Peter Pan. It credits Barrie with discovering the third reason why it is necessary to weigh an infant as soon as possible, aside from weight providing medical ...
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This chapter focuses on J. M. Barrie's Peter Pan. It credits Barrie with discovering the third reason why it is necessary to weigh an infant as soon as possible, aside from weight providing medical information and giving parents the answer to the question often asked by friends and family about the newborn. The third reason why babies are weighed at birth is because they have ability to fly until they have been weighed. The law of gravity does not kick in until the moment that it is physically demonstrated that the dial on a weighing instrument moves when the infant is placed on it.Less
This chapter focuses on J. M. Barrie's Peter Pan. It credits Barrie with discovering the third reason why it is necessary to weigh an infant as soon as possible, aside from weight providing medical information and giving parents the answer to the question often asked by friends and family about the newborn. The third reason why babies are weighed at birth is because they have ability to fly until they have been weighed. The law of gravity does not kick in until the moment that it is physically demonstrated that the dial on a weighing instrument moves when the infant is placed on it.
Jeff Wilson
- Published in print:
- 2009
- Published Online:
- January 2009
- ISBN:
- 9780195371932
- eISBN:
- 9780199870967
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371932.003.0003
- Subject:
- Religion, Religion and Society, Buddhism
This chapter examines the growing performance of mizuko kuyō-related rituals — often referred to as “water baby ceremonies” — in convert American Zen centers. Since the late 1970s and increasingly ...
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This chapter examines the growing performance of mizuko kuyō-related rituals — often referred to as “water baby ceremonies” — in convert American Zen centers. Since the late 1970s and increasingly since about 1990, Zen centers run mainly by and for white converts to Buddhism have been providing rituals for use after an abortion or miscarriage. Created by first-generation converts rather than imported by Japanese missionary priests, these rituals are partly derived from mizuko kuyō and partly the invention of female Zen teachers seeking to meet the needs of their students in the wake of Roe v. Wade. Tied to the growth of these rituals is the increasing popularity of celestial bodhisattva figures such as Kannon and Jizō, whose convert devotees promote a more devotional side of Buddhism than has been acknowledged in new Buddhist circles.Less
This chapter examines the growing performance of mizuko kuyō-related rituals — often referred to as “water baby ceremonies” — in convert American Zen centers. Since the late 1970s and increasingly since about 1990, Zen centers run mainly by and for white converts to Buddhism have been providing rituals for use after an abortion or miscarriage. Created by first-generation converts rather than imported by Japanese missionary priests, these rituals are partly derived from mizuko kuyō and partly the invention of female Zen teachers seeking to meet the needs of their students in the wake of Roe v. Wade. Tied to the growth of these rituals is the increasing popularity of celestial bodhisattva figures such as Kannon and Jizō, whose convert devotees promote a more devotional side of Buddhism than has been acknowledged in new Buddhist circles.
