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Working Paper
Wealth Distribution and Retirement Preparation among Early Savers
Thompson, Jeffrey P.; Moore, Kevin B.; Jacobs, Lindsay; Llanes, Elizabeth; Volz, Alice Henriques (2020-02-01)
This paper develops a new combined-wealth measure by augmenting data on net worth from the Survey of Consumer Finances with estimates of defined benefit (DB) pension and expected Social Security wealth. We use this concept to explore retirement preparation among two groups of households in pre-retirement years (aged 40 through 49 and 50 through 59), and to explore the concentration of wealth. We find evidence of moderate, but rising, shortfalls in retirement preparation. We also show that including DB pension and Social Security wealth results in markedly lower measures of wealth ...
Working Papers , Paper 20-4

Discussion Paper
The Role of Social Security in Overall Retirement Resources: A Distributional Perspective
Devlin-Foltz, Sebastian; Volz, Alice Henriques; Sabelhaus, John Edward (2016-07-29)
In this note, we first present trends in participation in employment-related retirement plans, and then provide analysis for one birth cohort, nearing retirement age, of the impact of Social Security on retirement wealth.
FEDS Notes , Paper 2016-07-29-1

Working Paper
Measuring Income and Wealth at the Top Using Administrative and Survey Data
Krimmel, Jacob; Bricker, Jesse; Sabelhaus, John Edward; Volz, Alice Henriques (2015-04-28)
Administrative tax data indicate that U.S. top income and wealth shares are substantial and increasing rapidly (Piketty and Saez 2003, Saez and Zucman 2014). A key reason for using administrative data to measure top shares is to overcome the under-representation of families at the very top that plagues most household surveys. However, using tax records alone restricts the unit of analysis for measuring economic resources, limits the concepts of income and wealth being measured, and imposes a rigid correlation between income and wealth. The Survey of Consumer Finances (SCF) solves the ...
Finance and Economics Discussion Series , Paper 2015-30

Working Paper
How does Social Security claiming respond to incentives? considering husbands' and wives' benefits separately
Volz, Alice Henriques (2012)
A majority of women receive most of their Social Security benefits based upon their husbands' earnings history, but previous research has shown that husbands' benefit claiming is inconsistent with maximizing lifetime benefits for the couple. However, that research assumes husbands choose their claim age based on all Social Security incentives facing the household. I show that husbands' claiming behavior responds to the actuarial incentives built into their own retired worker benefit formula, but not to the incentives built into the spouse and survivor formulas that determine their wives' ...
Finance and Economics Discussion Series , Paper 2012-19

Discussion Paper
Updating the Distributional Financial Accounts
Batty, Michael M.; Nielsen, Eric R.; Sommer, Kamila; Volz, Alice Henriques; Friedman, Sarah; Deeken, Ella; Bricker, Jesse; Reber, Sarah (2020-11-09)
In addition to incorporating 2020q2 data from the Financial Accounts, the 2020q2 release of the Distributional Financial Accounts (DFAs) includes three substantial updates. The most consequential is the incorporation of the newly released 2019 Survey of Consumer Finances (SCF).
FEDS Notes , Paper 2020-11-09-2

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