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| Uses of Lump Sum
Payment: Percent Distribution of Private Pension Plan Lump Sum Recipients Ages 40 and Over
by age at receipt |
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| Uses of Lump Sum Distributions | Number
of Recipients (in thousands) |
Percent | ||||||
| Age When Received | ||||||||
| Total | 30-49 | 50-54 | 55-59 | 60-64 | 65 or Older | Don't Know or No Response | ||
TOTAL |
9,102 |
100 |
100 |
100 |
100 |
100 |
100 |
100 |
| Retirement savings1/ | 2,323 | 26 | 25 | 32 | 34 | 34 | 27 | 9 |
| Put into business, house, or paid debts | 1,456 | 16 | 20 | 12 | 7 | 8 | 8 | 21 |
| Other savings or investments2/ | 1,246 | 14 | 11 | 13 | 16 | 23 | 21 | 12 |
| Spent3/ | 1,818 | 20 | 23 | 17 | 15 | 9 | 15 | 29 |
| Other or no response | 732 | 8 | 7 | 9 | 5 | 5 | 7 | 18 |
| Multiple uses | 1,525 | 17 | 15 | 17 | 24 | 21 | 21 | 11 |
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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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