Retirement Wealth Accumulation and Decumulation: New Developments and Outstanding Opportunities

Analysts have raised serious questions about current workers' ability and inclination to save enough for retirement. This is of obvious policy interest given the need to reform national retirement income programs. In the present paper we examine recent research developments regarding retirement wealth accumulation and decumulation. Our goal is to identify new developments and outstanding opportunities to encourage a more sensible process of growing and then drawing down retirement wealth.

Projected Retirement Wealth and Savings Adequacy in the Health and Retirement Study

Low saving rates raise questions about Americans' ability to maintain consumption levels in old age. Using the Health and Retirement Study, this paper explores asset holdings among a nationally representative sample of people on the verge of retirement. Making reasonable projections about asset growth, we assess how much more people would need to save in order to preserve consumption levels after retirement. We find that the median older household has current wealth of approximately $325,000 including pensions, social security, housing, and other financial wealth, an amount projected to grow to about$380,000 by retirement at age 62. Nevertheless, our model suggests that this median household will still need to save 16% of annual earnings to preserve pre-retirement consumption. For retirement at age 65, assets are expected to be about $420,000 and required additional saving totals 7% of earnings per year. These summary statistics conceal extraordinary heterogeneity in both assets and saving needs in the older population. Older high wealth households have 45 times more assets than the poorest decile and this disparity increases with age. There are also large differences in prescribed saving targets, ranging from 38% of annual earnings for those in the lowest wealth decile to negative rates for the wealthiest decile.

Retirement Wealth Accumulation and Decumulation: New Developments and Outstanding Opportunities

Analysts have raised questions about current workers' ability and inclination to save" enough for retirement. This issue is of obvious policy interest given the current debate over" reforming national retirement income programs. This paper explores the implications of recent" research regarding retirement wealth accumulation and decumulation for this debate. Our goal is" to identify problems and opportunities in the area of preparedness for retirement."

Timing and implications of Late Cretaceous tectonic and sedimentary events in Jamaica

The Cretaceous succession in Jamaica can be divided into sedimentary packages bounded by major unconformities (synthems). On the base of biostratigraphy and ages derived from strontium isotope ratios, these unconformities have been dated as Early Santonian, Late Campanian-Early Maastrichtian and Early Eocene. Each unconformity is also characterised by the widespread deposition of shallow water limestones, and a further shallow limestone depositional event occurred in the late Middle Campanian. Some unconformities can be related to known tectonic events (based on either Burke-type or Pindell-type models) that affected the Caribbean region. The Early Santonian event is widespread and occurred shortly after the creation of the Caribbean Large Igneous Province. The late Middle Campanian shallow water limestone event could correlate to the reversal of the Great Arc of the Caribbean in Burke-type models, but is unrepresented in Pindell-type models. The Late Campanian-Early Maastrichtian unconformity is related to the first collision of the Caribbean Plate with North America in both Burke-type and Pindell-type models. The Early Eocene event is associated with the onset of rifting that controlled Tertiary depositional patterns across Jamaica

Microborings in mid Cretaceous fish teeth

Fish teeth and other remains from the British Cretaceous contain abundant evidence for post-mortem colonization by endolithic organisms. The borings are here recognised as occurring in three morphotypes, including a flask-shaped form not previously recorded. There is strong evidence to suggest that each of these boring types shows a strong preference for a particular substrate histology. The damage and destruction of vertebrate remains by microborings is here considered to exert a major taphonomic control on microvertebrate assemblages. The relationships between the intensity of colonization of vertebrate material by endolithic organisms and palaeoenvironment have implications for using these bone microborings as palaeoenvironmental indicators

Non-collinear long-range magnetic ordering in HgCr2S4

The low-temperature magnetic structure of \HG has been studied by high-resolution powder neutron diffraction. Long-range incommensurate magnetic order sets in at T$_N\sim$22K with propagation vector \textbf{k}=(0,0,$\sim$0.18). On cooling below T$_N$, the propagation vector increases and saturates at the commensurate value \textbf{k}=(0,0,0.25). The magnetic structure below T$_N$ consists of ferromagnetic layers in the \textit{ab}-plane stacked in a spiral arrangement along the \textit{c}-axis. Symmetry analysis using corepresentations theory reveals a point group symmetry in the ordered magnetic phase of 422 (D$_4$), which is incompatible with macroscopic ferroelectricity. This finding indicates that the spontaneous electric polarization observed experimentally cannot be coupled to the magnetic order parameter