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But we saved everything 🙂.
Andrew Biggs highlights recent research by Attanasio, Banks, and Wakefield examining retirement tax preferences in the U.S. and UK. The study provides a clear explanation of the logic behind these preferences and breaks down the sources of new contributions to individual retirement accounts (IRAs).
Biggs notes that only a very small portion of new IRA contributions is drawn from reduced household consumption, which suggests that other sources make up the majority of contributions.
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Biggs has previously analyzed the correlation between household earnings and Social Security replacement rates, finding only a moderate link in earlier research. He has also presented findings that question whether well-funded defined benefit pensions always deliver benefits equal to their costs, as discussed in a recent conference report. These studies contribute to ongoing debates on retirement income and pension design.