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Reorienting Retirement Risk Management$
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Robert L. Clark and Olivia S. Mitchell

Print publication date: 2010

Print ISBN-13: 9780199592609

Published to Oxford Scholarship Online: September 2010

DOI: 10.1093/acprof:oso/9780199592609.001.0001

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Retirement Saving Adequacy and Individual Investment Risk Management Using the Asset/Salary Ratio

Retirement Saving Adequacy and Individual Investment Risk Management Using the Asset/Salary Ratio

Chapter:
(p.13) Chapter 2 Retirement Saving Adequacy and Individual Investment Risk Management Using the Asset/Salary Ratio
Source:
Reorienting Retirement Risk Management
Author(s):

P. Brett Hammond

David P. Richardson

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199592609.003.0002

This chapter uses a concept dubbed the asset/salary ratio (ASR) to examine factors that boost the chances that defined contribution plan participants will have sufficient assets to generate adequate retirement income. The authors show that, for a sample of higher‐education participants, assets are (on average) consistent with at least a 70 percent income replacement rate. Key factors predictive of success are an adequate contribution rate and long tenure in the system; having a portfolio weighted to equities is also beneficial but to a lesser extent.

Keywords:   retirement security, asset accumulation, saving rate, replacement rate

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