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Redefining RetirementHow Will Boomers Fare?$
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Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo

Print publication date: 2007

Print ISBN-13: 9780199230778

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199230778.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 October 2019

The Impact of Pensions on Nonpension Investment Choices

The Impact of Pensions on Nonpension Investment Choices

Chapter:
(p.179) Chapter 9 The Impact of Pensions on Nonpension Investment Choices
Source:
Redefining Retirement
Author(s):

Brigitte Madrian (Contributor Webpage)

Olivia S. Mitchell (Contributor Webpage)

Beth J. Soldo (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199230778.003.0009

This chapter documents the investment choices of workers outside their company pensions. The Health and Retirement Study is used to evaluate how investment patterns outside pension holdings have been influenced by the shift from defined benefit to defined contribution pensions. Since workers with defined benefit plans can expect steady income in retirement, they might be thought to invest less conservatively outside their pensions. Nevertheless, the data show otherwise. Defined contribution participants also hold stock investments outside their pension portfolios. These findings suggest that increased stock holding as defined benefit plans decline in importance.

Keywords:   investment, pensions, stock market, defined benefit, defined contribution, Social Security, risk exposure, Health and Retirement Study

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