The Resource Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday On Retirement Plan Distributions, Jeffrey R. Brown, James Poterba, David Richardson, (electronic resource)
Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday On Retirement Plan Distributions, Jeffrey R. Brown, James Poterba, David Richardson, (electronic resource)
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The item Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday On Retirement Plan Distributions, Jeffrey R. Brown, James Poterba, David Richardson, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Bowdoin College Library.This item is available to borrow from 1 library branch.
Resource Information
The item Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday On Retirement Plan Distributions, Jeffrey R. Brown, James Poterba, David Richardson, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Bowdoin College Library.
This item is available to borrow from 1 library branch.
- Summary
- This paper investigates how the 2009 one-time suspension of the Required Minimum Distribution (RMD) rules associated with qualified retirement plans affected plan distributions at TIAA-CREF, a large retirement services provider. Using panel data on retirement plan participants at TIAA-CREF, we find that roughly one third of those who were affected by minimum distribution rules discontinued their distributions in 2009. The results also show relatively small differences in the suspension probability between those who had 2008 distributions equal to the RMD amount, and might be classified as facing a binding RMD constraint, and those who were taking distributions in excess of the RMD amount before the distribution holiday. The probability of suspension declines substantially with age and rises modestly with economic resources. We find that individuals taking monthly distributions are less likely to suspend distributions than those taking annual distributions, particularly at higher wealth levels. This pattern is consistent with those who choose monthly distributions being more likely to use their distributions to finance consumption. We supplement these results based on administrative record data on retirement plan participants with survey evidence on participant attitudes that affected decisions about suspending distributions. Our findings provide guidance on the revenue consequences of changing RMD rules and offer insights about the role of various behavioral considerations, such as inertia, in modeling distribution behavior
- Language
- eng
- Note
- September 2014
- Label
- Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday On Retirement Plan Distributions
- Title
- Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday On Retirement Plan Distributions
- Statement of responsibility
- Jeffrey R. Brown, James Poterba, David Richardson
- Language
- eng
- Summary
- This paper investigates how the 2009 one-time suspension of the Required Minimum Distribution (RMD) rules associated with qualified retirement plans affected plan distributions at TIAA-CREF, a large retirement services provider. Using panel data on retirement plan participants at TIAA-CREF, we find that roughly one third of those who were affected by minimum distribution rules discontinued their distributions in 2009. The results also show relatively small differences in the suspension probability between those who had 2008 distributions equal to the RMD amount, and might be classified as facing a binding RMD constraint, and those who were taking distributions in excess of the RMD amount before the distribution holiday. The probability of suspension declines substantially with age and rises modestly with economic resources. We find that individuals taking monthly distributions are less likely to suspend distributions than those taking annual distributions, particularly at higher wealth levels. This pattern is consistent with those who choose monthly distributions being more likely to use their distributions to finance consumption. We supplement these results based on administrative record data on retirement plan participants with survey evidence on participant attitudes that affected decisions about suspending distributions. Our findings provide guidance on the revenue consequences of changing RMD rules and offer insights about the role of various behavioral considerations, such as inertia, in modeling distribution behavior
- http://library.link/vocab/creatorName
- Brown, Jeffrey R
- Index
- no index present
- Literary form
- non fiction
- Nature of contents
- dictionaries
- http://library.link/vocab/relatedWorkOrContributorName
-
- Poterba, James
- Richardson, David
- National Bureau of Economic Research
- Series statement
- NBER working paper series
- Series volume
- no. w20464
- Target audience
- specialized
- Label
- Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday On Retirement Plan Distributions, Jeffrey R. Brown, James Poterba, David Richardson, (electronic resource)
- Note
- September 2014
- Control code
- ssj0001326492
- Dimensions
- unknown
- Form of item
- online
- Governing access note
- Access restricted to subscribing institutions
- Specific material designation
- remote
- System control number
- (WaSeSS)ssj0001326492
- System details
-
- System requirements: Adobe [Acrobat] Reader required for PDF files
- Mode of access: World Wide Web
- Label
- Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday On Retirement Plan Distributions, Jeffrey R. Brown, James Poterba, David Richardson, (electronic resource)
- Note
- September 2014
- Control code
- ssj0001326492
- Dimensions
- unknown
- Form of item
- online
- Governing access note
- Access restricted to subscribing institutions
- Specific material designation
- remote
- System control number
- (WaSeSS)ssj0001326492
- System details
-
- System requirements: Adobe [Acrobat] Reader required for PDF files
- Mode of access: World Wide Web
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.bowdoin.edu/portal/Do-Required-Minimum-Distributions-Matter-The/NygiPU10K2c/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.bowdoin.edu/portal/Do-Required-Minimum-Distributions-Matter-The/NygiPU10K2c/">Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday On Retirement Plan Distributions, Jeffrey R. Brown, James Poterba, David Richardson, (electronic resource)</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.bowdoin.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="https://link.bowdoin.edu/">Bowdoin College Library</a></span></span></span></span></div>