How the income tax treatment of saving and Social Security benefits may affect boomers' retirement incomes

How the income tax treatment of saving and Social Security benefits may affect boomers' retirement incomes

How the income tax treatment of saving and Social Security benefits may affect boomers' retirement incomes

Butrica

Barbara A.

Butrica, Barbara A.

Author

Author

Smith

Karen E.

Smith, Karen E.

Author

Author

Toder

Eric

Toder, Eric

Author

Author

text

working paper

Chestnut Hill, Mass. Center for Retirement Research at Boston College20082008monographic

Chestnut Hill, Mass.

Chestnut Hill, Mass.

Center for Retirement Research at Boston College

2008

2008

monographic

Englisheng

English

eng

electronicapplication/pdfborn digital

electronic

application/pdf

born digital

Income tax provisions affect the buildup of retirement assets during workers careers and after-tax income following retirement. This paper uses the Urban Institutes DYNASIM model to simulate how potential changes in the tax treatment of retirement saving, Social Security benefits, and income from assets outside of retirement accounts may affect boomers retirement incomes. Results show that changes in the income thresholds for taxing Social Security benefits have the largest impact on middle-income boomers, while changes in contribution limits for retirement saving plans and tax rates on capital gains and dividends have the largest impact on the highest income boomers.

Barbara A. Butrica, Karen E. Smith, and Eric Toder.

CRR WP2008-3

CRR WP2008-3

CRR WP

2008-3

http://crr.bc.edu/images/stories/Working_Papers/wp_2008-3.pdf

MChBEnglisheng

MChB

Englisheng

English

eng