What Now? A Boomer's Baedeker for the Distribution Phase of Defined Contribution Retirement Plans

NYU Review of Employee Benefits and Executive Compensation, Chapter 4, 2015

University of Illinois College of Law Legal Studies Research Paper No. 16-6

31 Pages Posted: 1 Feb 2016

See all articles by Richard L. Kaplan

Richard L. Kaplan

University of Illinois College of Law

Date Written: January 29, 2016

Abstract

Baby Boomers head into retirement with various retirement-oriented savings accounts, including 401(k) plans and IRAs, but no clear pathway to utilizing the funds in these accounts. This Article analyzes the major factors and statutory regimes that apply to the distribution or “decumulation” phase of defined contribution retirement arrangements. It begins by examining the illusion of wealth that these largely tax-deferred plans foster and then considers how the funds in those plans can be used to: (1) create regular income; (2) pay for retirement health care costs, including long-term care; (3) make charitable donations; and (4) provide resources to those who survive the owners of these plans.

Suggested Citation

Kaplan, Richard L., What Now? A Boomer's Baedeker for the Distribution Phase of Defined Contribution Retirement Plans (January 29, 2016). NYU Review of Employee Benefits and Executive Compensation, Chapter 4, 2015; University of Illinois College of Law Legal Studies Research Paper No. 16-6. Available at SSRN: https://ssrn.com/abstract=2724817

Richard L. Kaplan (Contact Author)

University of Illinois College of Law ( email )

504 E. Pennsylvania Avenue
Champaign, IL 61820
United States
(217) 333-2499 (Phone)
(217) 244-1478 (Fax)

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