Pension Issues: Lump-Sum Distributions and Retirement Income Security (CRS Report for Congress)
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| Release Date |
Revised Jan. 7, 2009 |
| Report Number |
RL30496 |
| Report Type |
Report |
| Authors |
Patrick Purcell, Domestic Social Policy Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
This report discusses the disposition of pre-retirement lump-sum distributions from pension plans and presents estimates of the potential losses in retirement wealth that can occur when these distributions are spent rather than saved. It summarizes previous research findings and presents the results of a Congressional Research Service (CRS) analysis of data from the Survey of Income and Program Participation. Policy implications are discussed in the context of the Tax Reform Act of 1986 and the Unemployment Compensation Amendments of 1992, both of which changed the tax treatment of early distribution from pensions.
