@article {5706,
	title = {Pension Estimation Program Users Guide},
	year = {2016},
	institution = {University of Michigan},
	address = {Ann Arbor, Michigan},
	abstract = {Periodically, the HRS obtains pension Summary Plan Descriptions (SPDs) from the employers of study respondents1. These SPDs are then analyzed and coded, and the plan description data, along with specific data from the respondents, are analyzed using a software product known as the Pension Estimation Program. This program is designed to estimate the pension entitlements held by respondents of the HRS, based on the plan formulas and benefit provisions obtained from the linked sample of pension providers. The Pension Estimation Program uses systems of equations to represent each of the pension plans, including all benefit formulas and payment provisions. These equations, in turn, use as input work and income histories of the respondents. For a given set of assumptions, the program calculates the appropriate pension entitlements, and generates output data files for subsequent analysis.

This is the documentation for the current (April 2016) version of the pension estimation program which replaces all previous versions. Researchers may wish to examine the <a href="/publications/biblio/8909">Pension Coding Program Users Guide</a> for information on HRS coding procedures.},
	keywords = {Methodology, Pensions},
	author = {Fang, Chichun and Amy Butchart and Helena Stolyarova and Michael A. Nolte and Robert Peticolas}
}
@article {6937,
	title = {Portfolio Risk and Self-Directed Retirement Saving Programmes},
	journal = {The Economic Journal},
	volume = {114},
	year = {2004},
	pages = {C26-C51},
	publisher = {114},
	abstract = {Defined contribution retirement plans expose retirement savers to financial market risks. This paper explores the costs of retirement wealth risk. It begins by describing the holding of company stock in 401(k) plans in the US, an investment choice that yields a poorly diversified retirement portfolio. It then summarises the composition of household wealth at retirement and investigates how the degree of diversification in retirement assets affects expected utility. The cost of holding a poorly diversified retirement portfolio is very sensitive to whether or not the retirement saver has other assets that provide a floor for retirement consumption.},
	keywords = {Net Worth and Assets, Pensions},
	author = {James M. Poterba}
}
@inbook {5177,
	title = {Preretirement Cashouts and Foregone Retirement Saving: Implications for 401(k) Asset Accumulation},
	booktitle = {Themes in the Economics of Aging},
	year = {2001},
	note = {RDA 1999-002 Wise ProCite field 6 : In ProCite field 8 : ed},
	pages = {23-58},
	publisher = {University of Chicago Press},
	organization = {University of Chicago Press},
	address = {Chicago, IL},
	keywords = {Consumption and Savings, Net Worth and Assets, Pensions},
	url = {https://www.nber.org/chapters/c10320},
	author = {James M. Poterba and Steven F Venti and David A Wise},
	editor = {David A Wise}
}
