Archive: The 2008-2009 Recession
The brief’s key findings are: The severity of the Great Recession is projected to have increased the probability of claiming Social Security at age 62 by more than 5 percentage points. This increase was relatively uniform across the income spectrum. The affected individuals claimed six months earlier, resulting in a 4.6 percent reduction in monthly…
The brief’s key findings are: Progress in the 401(k) system stalled in the wake of the economic crisis, according to the 2010 Survey of Consumer Finances data. Despite an increase in auto-enrollment, the percent of employees not participating ticked up. And 401(k) contributions slipped, while leakages through cash outs, loans, and hardship withdrawals increased. As a result,…
