UM05-01: Social Security Eligibility, Benefit Levels, and Replacement Rates in the HRS

Social Security reform proposals are often presented in terms of their differential impacts on hypothetical workers with a range of lifetime earnings. Our work will explore how different concepts of replacement rates influence benefit outcomes, and how these are in…

UM05-02: Retirement, Saving, Benefit Claiming and Solvency Under A Partial System of Voluntary Personal Accounts

This project will examine behavior under a partial system of voluntary personal accounts and analyze implications for the Social Security system. Questions to be addressed include: What determines participation in a partial system of voluntary personal accounts? How will these…

UM05-03: Understanding Global Aging

This proposal responds to SSA’s interest in global aging by developing a dynamic, general equilibrium, life-cycle simulation model of demographic change in the U.S., EU, Japan, China, and India. The model, a prototype of which exists, incorporates fertility reductions, lifespan…

UM05-04: Technological Progress and Worker Productivity at Different Ages

This project will use 1950–90 Census data to test whether the effects of technological progress are specific to young workers or general to workers of all ages. Which model holds is very important. If the specific model is more valid,…

UM05-05: Social Security and Retirement Dynamics

This project will explain the relation of specific features of Social Security, such as benefit amounts, the early entitlement age, the normal retirement age and the earnings-test parameters, to the full range of retirement outcomes – continued work on the…

UM05-06: Enhancing Data Quality through Longitudinal Imputation: Studies of the Income and Asset Data from HRS and AHEAD

This project continues work done over the past several years on the assessment of data quality in the HRS and AHEAD surveys, eventually intended to result in a set of longitudinally consistent data files for these surveys. Much of the…

UM05-07: Secure Data Environment and Development of Remote Data Access Facilities

The MRRC will continue to support a secure data environment at the Institute for Social Research, (the Data Enclave), where researchers can analyze Social Security administrative files without risking a breach of confidentiality. While this is an important resource, travel…

UM05-08: Consumption and Economic Well-Being at Older Ages

As society faces difficult choices about allocating its resources among different age groups, measuring each group’s needs accurately is imperative. Consumption is a much more direct measure of economic well-being than income; yet income is almost universally used to measure…

UM05-09: Planning, Financial Literacy, and Retirement Wealth

Many Americans are poorly informed about their Social Security and pensions and confront substantial shortfalls in retirement wealth. To better understand how workers plan and save for retirement, we have devised a special module for the 2004 Health and Retirement…

UM05-10: The Impact of Misperceptions about Social Security on Saving and Well-Being

Existing research comparing expectations and realizations of Social Security income suggests that many people overestimate their future retirement income. If this affects their retirement savings, it implies that people have to revise their consumption patterns in retirement and are faced…