Compass
|
AimPoint Pension
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Loan & Distribution Specialist AimPoint Pension
|
Regional Vice President of Sales The Retirement Plan Company
|
Bates & Company, Inc.
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Retiring in Debt? Differences between the 1995 and 2004 Near-Retiree Cohorts (PDF)
U.S. Social Security Administration [SSA] July 29, 2009 22 pages. Excerpt: This article uses the Federal Reserve Board's Survey of Consumer Finances to examine the debt holdings of near-retirees (aged 50?61) in 1995 and 2004. Employing a variety of measures of household borrowing, we find that near-retirees in 2004 -- the leading edge of the baby-boom cohort -- had more consumer and housing debt than their counterparts in 1995. We observe a modest increase in the median debt service and debt-to-assets ratios between the two cohorts, but no statistical difference in the average ratios. Analysis of several demographic and socioeconomic subgroups reveals certain population segments, such as households headed by single women, with significantly higher debt service ratios in 2004. We discuss the implications of these trends for the retirement income security of older baby boomers and suggest further avenues of research. |
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |