Pension Projection Models
The PSG models provide a broad range of employer-sponsored pension and social security analysis capabilities, but there are some missing capabilities from the perspective of producing comprehensive estimates of retirement income. It is possible that some of these missing capabilities will be added to the PSG models in the future.
The PSG models do not simulate asset accumulation other than in employer-sponsored pensions and in the social security program. This means that there are no estimates of housing equity or other (non-pension and non-social-security) assets.
The PSG models do not simulate SSI benefits, which can supplement low social security benefits or provide benefits to those who are not eligible for social security benefits.
The PSG models do not explicitly simulate loans or hardship withdrawals from employer-sponsored defined-contribution pension plans. However, the leakage effect of defaults on outstanding loans at job end are incorporated into the PENSIM rollover (versus cashout) probability function as described in the PENSIM Overview document (search for 'loan').
The PSG models do not simulate state income taxation of pension or social security benefits or any other type of income.
Other key features.