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Visual representation of number of OASDI beneficiaries per 100 workers paying OASDI taxes. In 1945, there were two beneficiaries for every 100 covered workers. In 2016, there were 35 beneficiaries per 100 covered workers. Source: 2017 Annual Report of the Board of Trustees of the Federal Old-age and Survivors insurance and the Federal Disability Insurance Trust Funds, Table IV.B3.—Covered Workers and Beneficiaries, Calendar Years 1945-2095.

Potential trust fund fix: Encouraging longer work

Sometimes researchers create structural economic models to help understand the Old Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds’ solvency issues and to test possible solutions. Taking information (data) from real life, they build a picture of…

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A beginner’s guide to the Social Security trust funds’ solvency

How to fix the solvency issues of the Old Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds, often referred to as the Social Security trust funds (OASDI), continues to concern policymakers and voters alike. As a pay-as-you-go…

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Retirement: It’s a Family Affair

While research often focuses on the retirement bound individual or couple, few people live their lives with no outside influences. A parent’s desire to lighten a child’s burden could have a negative impact on the parent’s retirement security, and such…

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MRRC to become MRDRC (Michigan Retirement and Disability Research Center)

In September, Michigan Retirement Research Center (MRRC) was awarded its fifth five-year cooperative agreement renewal from the Social Security Administration. MRRC Director and Principle Investigator John Laitner explained that as part of the grant proposal, MRRC agreed to include disability…

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Making sense of health’s role in employment

Despite the growing number of studies and the increasing availability of detailed data, researchers haven’t developed a consensus on how health affects employment. This is partly explained by the wide variety in datasets (how they are collected, how they measure…

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Are lifetime earnings a product of the times? Veterans who entered the civilian market in periods of high unemployment have lower earnings for over a decade, have lower levels of prospective Social Security wealth, and appear to delay retirement (perhaps to compensate for the negative effects experienced early in their careers), and have higher levels of family instability. These results suggest that young workers who entered the labor market during the Great Recession are likely to experience negative effects throughout the first phases of their career; indeed, some of the effects could influence today’s workers through retirement.

Tough timing: Study looks at veterans to pin down the long-term effects of entering the labor market during a recession

Previous research has found that young people entering the job market during a weak economy face lingering negative effects, earning less than workers who joined the labor market during, for example, a period of low unemployment. Such effects can last…

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MRRC Director John Laitner recaps the spring workshop

The Michigan Retirement Research Center held its annual researcher workshop on March 23 and 24, 2018. As in recent years, we used space at the Ross School of Business, at the University of Michigan. This workshop has only plenary sessions…

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MRRC Director John Laitner previews 2017 key findings

The 2018 Winter Newsletter includes brief summaries of findings from a dozen new MRRC working papers. The projects illustrate two principal themes of our research effort: They make in-depth use of up-to-date data sources to test and quantify our understanding…

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More retirement planning with Mike and Mary

  In our last exciting episode, Mike and Mary decided to keep working rather than take early retirement at age 62. They realized that they were behind in their retirement savings goals and likely to live longer than average given…

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Better data on private pensions helps researchers paint a more detailed picture of retirement

One of the United States’ longest-running surveys on aging, the Health and Retirement Study (HRS), recently was able to add pension plan descriptions from public employers’ websites and private employers’ Form 5500 filings. While in the past HRS has had…

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