An Analysis of the Choice to Cash Out Pension Rights at Job Change or Retirement

Michael D. Hurd, Lee A. Lillard, Constantijn (Stan) Panis

Published 1998

If private pension plan funds are consumed before or immediately after retirement, old-age income may decline, and public policy may require adjustment. Using new data, RAND finds that the issue is far less severe than suggested by prior research.

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Hurd, Michael D., Lee A. Lillard, and Constantijn (Stan) Panis, An Analysis of the Choice to Cash Out Pension Rights at Job Change or Retirement. Santa Monica, CA: RAND Corporation, 1998. https://www.rand.org/pubs/drafts/DRU1979.html.
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