Retirement Benefit Distributions for California Educators /
Distribution choices by individuals retiring from CalSTRS are examined for participants that retired between 2016 and 2023. Women are much more likely to select a member-only annuity while a larger proportion of men select a J&S annuity that provide survivor benefits. Being married is a dominant...
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- Sprache:
- Englisch
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Cambridge, Mass.
National Bureau of Economic Research
2024.
- Zusammenfassung:
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Distribution choices by individuals retiring from CalSTRS are examined for participants that retired between 2016 and 2023. Women are much more likely to select a member-only annuity while a larger proportion of men select a J&S annuity that provide survivor benefits. Being married is a dominant factor in the selection of J&S annuities. Greater final annual salary, older ages at retirement, and more years of service are associated with a greater probability of choosing a J&S annuity. We also find that benefit choices from the primary benefit plan are jointly determined with distributions chosen from the supplemental pension plan. Interestingly, about half of retirees select a lump sum distribution from the supplemental plan while receiving an annuity from their primary plan.
- Umfang:
- 1 online resource: illustrations (black and white);
- Anmerkungen:
- June 2024.
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