How do Retirees Go from Stock to Flow?

John Ameriks

in Pension Design and Structure

Published in print July 2004 | ISBN: 9780199273393
Published online January 2005 | e-ISBN: 9780191601675 | DOI:
How do Retirees Go from Stock to Flow?

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This chapter examines mechanisms used by retired and retiring individuals in a defined contribution pension plan to finance retirement income flows. The study draws on the mechanisms used by Teachers Insurance and Annuity Association-College of Retirement Equities Fund participants. The introduction of non-annuity income options led to a decline in the use of immediate life-contingent annuity payments. The types of income options chosen by participants varied over time and demographic characteristics.

Keywords: defined contribution plan; retirement income; income payments; non-annuity options

Chapter.  8182 words.  Illustrated.

Subjects: Financial Markets

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