Spend It or Save It?: Pension Lump-Sum Distributions and Tax Reform

Explores the policy question of whether allowing people access to their pension money when they change jobs enhances or diminishes their eventual retirement income. Two related questions are raised: How often do pre-retirement lump-sum distributions really occur? and When lump sums are provided, are they rolled over into other retirement accounts or are they spent? Distributed by arrangement with the Employee Benefit Research Institute.