Tag: Social Security
The financial impact on older people who find themselves out of work goes far beyond the missed paychecks: it upsets well-laid plans for retirement. Stan Bednarczyk, an engineer who was laid off in 2009 by a Michigan automobile supplier, has numerous concerns. He can no longer contribute to the retirement account sponsored by his former employer…
The brief’s key findings are: Social Security’s annual Statement of estimated benefits at different ages helps people plan for retirement. Those receiving it are more likely to provide an estimate of their benefits, and their estimates tend to be more accurate. The Statement does not appear to change retirement behavior; further research is needed to…
