Full Citation

Title: Retirement Security in an Aging Population

Citation Type: Miscellaneous

Publication Year: 2014

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Abstract: Elderly individuals exhibit wide disparities in their sources of income. For those in the bottom half of the income distribution, Social Security is the most important source of support; program changes would directly affect their well-being. Income from private pensions, assets, and earnings are relatively more important for higher-income elderly individuals, who have more diverse income sources. The trend from private sector defined benefit to defined contribution pension plans has shifted responsibility for retirement security to individuals. A significant subset of the population is unlikely to be able to sustain their standard of living in retirement without higher pre-retirement saving.

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Authors: Poterba, James M.

Publisher: Massachusetts Institute of Technology

Data Collections: IPUMS CPS

Topics: Aging and Retirement

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