Yuh, 1996

Yuh, Y. & DeVaney, S. A. (1996). Determinants of couples’ defined contribution retirement funds, Financial Counseling and Planning, 7, 31-38.

Determinants of Couples’
Defined Contribution Retirement Funds

Yoonkyung Yuh,(1) The Ohio State University

Sharon A. DeVaney,(2) Purdue University

The study examined factors associated with the amount of defined contribution retirement funds
using the 1992 Survey of Consumer Finances. Couples with larger amounts of income and smaller
amount of nonfinancial assets had larger amounts of defined contribution funds. Also, the funds
increased as years of employment and employer contribution rate increased. Households with lower
levels of education, less skilled occupations, and with respondents who were unwilling to take
financial risks, or who were Black and Hispanic had smaller amounts of defined contribution funds,
all other things equal. Most households 30 or more years from retirement had predicted fund levels
of zero.

KEY WORDS: defined contribution plan, pensions, retirement, savings

1. Yoonkyung Yuh, Ph.D. candidate, Consumer Sciences Department, The Ohio State University, 1787 Neil Ave., Columbus, OH 43210-1295. Phone: (614) 292-4590. FAX: (614) 292-7536. E-mail: yuh.2@osu.edu.

2. Sharon A. DeVaney, Assistant Professor, Consumer Sciences and Retailing, 216 Matthews Hall, Purdue University, West Lafayette, IN 47907-1262. Phone: (317) 494-8300. FAX: (317) 494-0869. E-mail: sdevaney@purdue.edu

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