| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26437 |
| 来源ID | Working Paper 26437 |
| How Would 401(k) \u2018Rothification\u2019 Alter Saving, Retirement Security, and Inequality? | |
| Vanya Horneff; Raimond Maurer; Olivia S. Mitchell | |
| 发表日期 | 2019-11-11 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | The US has long incentivized retirement saving in 401(k) and similar retirement accounts by permitting workers to defer taxes on contributions, levying them instead when retirees withdraw funds in retirement. This paper develops a dynamic life cycle model to show how and whether ‘Rothification’ – that is, taxing 401(k) contributions rather than payouts – would alter household saving, investment, and Social Security claiming patterns. We show that these changes differ importantly for low- versus higher-paid workers. We conclude that moving to a system that taxes pension contributions instead of withdrawals will lead to later retirement ages, particularly for the better-educated. It would also reduce work hours and lifetime tax payments and increase consumption inequality in retirement. In addition, we show how these behaviors would differ in a persistently low interest rate environment versus a more “normal” historical return world. |
| 主题 | Microeconomics ; Households and Firms ; Behavioral Economics ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions |
| URL | https://www.nber.org/papers/w26437 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584109 |
| 推荐引用方式 GB/T 7714 | Vanya Horneff,Raimond Maurer,Olivia S. Mitchell. How Would 401(k) \u2018Rothification\u2019 Alter Saving, Retirement Security, and Inequality?. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26437.pdf（468KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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