The Impact of the Growth of Defined Contribution Plans on Bequests

TitleThe Impact of the Growth of Defined Contribution Plans on Bequests
Publication TypeBook Chapter
Year of Publication2003
AuthorsMunnell, AH, Sundén, A, Soto, M, Taylor, C
EditorMunnell, AH, Sundén, A
Book TitleDeath and Dollars: The Role of Gifts and Estates in America
PublisherThe Brookings Institution Press
CityWashington, DC
Call Numberpubs_2003_munnell-sunden.pdf
KeywordsAdult children, Consumption and Savings, Pensions
Abstract

This paper explores the shift from defined benefit to defined contribution plans and considers how it might affect bequests and thereby consumption and saving. Our hypothesis is that both intended bequests and unintended bequests will increase as retirees receive more of their pension benefits as lump sums rather than as annuity payments. We also contend that workers recognize that they may not consume their lump-sum payments and react differently to accumulations in defined benefit and defined contribution plans during their lifetime.

Notes

ProCite field 6 : In ProCite field 8 : eds.

URLhttp://www.bc.edu/centers/crr/papers/woodstock/munnell-sunden.pdf
Endnote Keywords

defined contribution pension plans/defined benefits/Bequests/Savings/Consumption

Endnote ID

11022

Short TitleThe Impact of the Growth of Defined Contribution Plans on Bequests
Citation Key5184