Tag: retirement income
Abstract Using data from the 1992, 1998, 2004, and 2010 waves of the Health and Retirement Study (HRS), this paper compares pension participation, pension wealth, projected retirement income, and replacement rates attributable to past service, by pension type for households ages 51-56. The analysis includes workers’ pension coverage during both current and past jobs. Defined…
The brief’s key findings are: Today’s workers face a brewing retirement crisis due to: a growing need for income driven by longer lifespans, rising health costs, and low interest rates; and reduced support from Social Security and defined benefit pension plans. Fortunately, the solutions are at hand: Policymakers should shore up Social Security with more revenue,…
