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| Uses of Lump Sum
Payment: Percent Distribution of Private Pension Plan
Lump Sum Recipients Ages 40 and Over by amount received |
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| Uses of Lump Sum Distributions | Number
of Recipients (in thousands) |
Percent | Median
Lump Sum Amount (in 1994 dollars) |
Mean
Lump Sum Amount (in 1994 dollars) |
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| Amount
of Distribution (in 1994 dollars) |
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| Total | 1-3,499 | 3,500-
9,999 |
10,000-
49,999 |
50,000 or More | Don't Know or No Response | ||||
TOTAL |
9,102 |
100 |
100 |
100 |
100 |
100 |
100 |
$7,711 |
$22,309 |
| Retirement savings1/ | 2,323 | 26 | 13 | 24 | 35 | 48 | 27 | 15,546 | 33,209 |
| Put into business, house, or paid debts | 1,456 | 16 | 22 | 22 | 11 | 5 | 12 | 4,438 | 13,081 |
| Other savings or investments2/ | 1,246 | 14 | 11 | 12 | 14 | 15 | 16 | 10,905 | 27,449 |
| Spent3/ | 1,818 | 20 | 36 | 19 | 10 | 3 | 15 | 3,096 | 7,884 |
| Other or no response | 732 | 8 | 8 | 6 | 4 | 1 | 15 | 3,626 | 10,542 |
| Multiple uses | 1,525 | 17 | 10 | 17 | 25 | 28 | 15 | 18,073 | 33,864 |
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1/ IRA, plan with new employer, or other retirement program. 2/ Savings account, other financial instruments, other savings or investments. 3/ Purchased consumer products, paid medical, educational, or general expenses, and other expenditures. SOURCE: Retiree Pension and
Health Benefits Supplement to the September 1994 Current Population Survey. |
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