Pensions, Social Security, and the Distribution of Wealth

41 Pages Posted: 30 May 1998

See all articles by Arthur B. Kennickell

Arthur B. Kennickell

Federal Reserve Board - Department of Research & Statistics

Annika E. Sundén

Stockholm University - Swedish Institute for Social Research (SOFI)

Date Written: November 6, 1997

Abstract

This paper uses the Survey of Consumer Finances (SCF) to examine pension coverage, estimate Social Security and pension wealth for U.S. households in 1989 and 1992, and to estimate the effects of pension wealth on non-pension net worth. As expected, the SCF data show that including pensions and Social Security in net worth makes the distribution more even. The analysis of the effects of pension wealth on other types of savings indicates that there is a negative effect of defined benefit plan coverage on non-pension net worth. Surprisingly, the effect of defined contribution plans, such as 401(k) plans is insignificant.

JEL Classification: E2, J3

Suggested Citation

Kennickell, Arthur B. and Sundén, Annika E., Pensions, Social Security, and the Distribution of Wealth (November 6, 1997). FEDS Discussion Paper No. 97-55. Available at SSRN: https://ssrn.com/abstract=93708 or http://dx.doi.org/10.2139/ssrn.93708

Arthur B. Kennickell

Federal Reserve Board - Department of Research & Statistics ( email )

20th & C. St., N.W.
Washington, DC 20551
United States
202-452-2247 (Phone)
202-452-5295 (Fax)

Annika E. Sundén (Contact Author)

Stockholm University - Swedish Institute for Social Research (SOFI) ( email )

Kyrkgatan 43B
SE-106 91 Stockholm
Sweden

Register to save articles to
your library

Register

Paper statistics

Downloads
260
Abstract Views
2,137
rank
118,207
PlumX Metrics