Household Economic Shocks Increase Retirement Wealth Inequality
Teresa Ghilarducci (),
Siavash Radpour (),
Bridget Fisher and
Anthony Webb ()
No 2016-01, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School
Economic shocks, such as job-loss, have a particularly adverse effect on the retirement savings of workers in low-income households, exacerbating retirement savings inequality. Low income households are more likely than moderate- and upper-income households to experience economic shocks. Workers in low-income households are also more likely to withdraw from their retirement account after a shock. This study shows that these shocks have significant effects on the finances of low-income households, causing up to a third of all withdrawals, and possibly more.
Keywords: Retirement; 401(k); GRA; Social Security (search for similar items in EconPapers)
JEL-codes: D63 E21 H55 J26 J32 (search for similar items in EconPapers)
Pages: 10 pages
New Economics Papers: this item is included in nep-age, nep-mac, nep-pbe and nep-pub
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Persistent link: https://EconPapers.repec.org/RePEc:epa:cepapn:2016-01
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