RT Journal Article
SR Electronic
T1 The Impact of Leakages from 401(k)s and IRAs
JF The Journal of Retirement
FD Institutional Investor Journals
SP jor.2021.1.096
DO 10.3905/jor.2021.1.096
A1 Alicia H. Munnell
A1 Anthony Webb
YR 2021
UL https://pm-research.com/content/early/2021/11/19/jor.2021.1.096.abstract
AB This article summarizes what is known about leakages from existing studies and relates these results to detailed data on leakages in 2013 provided by Vanguard’s How America Saves. It then uses two data sets—the Survey of Consumer Finances and the Survey of Income and Program Participation—to estimate the impact of leakages on wealth at retirement.The Vanguard data are a critical component because they provide a comprehensive picture of assets and participant flows, whereas the surveys on which earlier studies were based tended to focus on one component, such as loans. A key limitation is that Vanguard’s population is probably wealthier than the general population.