UM08-01: Are All Americans Saving Adequately for Retirement

Many people fear that Americans are preparing poorly for retirement.  But developing rigorous evidence on this issue is difficult.  In this paper we briefly discuss evidence on the adequacy of retirement wealth accumulation.  We conclude that existing descriptive evidence does…

UM08-02: Immigrant-Native Fertility and Mortality Differentials in the United States

Immigrants have been discussed as a means of alleviating fiscal pressures on Social Security. Their long-term impact on the Social Security system depends critically on their fertility and mortality patterns. In this paper, we examine the fertility and mortality patterns…

UM08-03: How Does Modeling of Retirement Decisions at the Family Level Affect Estimates of the Impact of Social Security Policies on Retirement?

This paper applies structural models of retirement and saving of two earner couples to explore the effects on retirement of two actuarially neutral policies, which we know from previous work can have a substantial effect on retirement if heterogeneity in…

UM08-04: The Effect of Medicare and Social Security Benefits on the Timing of Retirement

We rely on the Master Beneficiary File to document a number of facts regarding claiming of Social Security benefits and quality of date of birth data in administrative files. We then assess the impact of changes in retirement incentives that…

UM08-05: How Much Do Respondents in the Health and Retirement Study Know About Their 401(k)s? A Cross-cohort Comparison

 

UM08-06: Time, Expenditure, and Retirement Decisions

In this paper we revisit two well-known facts regarding lifecycle expenditures. The first is the familiar ‘hump’ shaped lifecycle profile of nondurable expenditures. We document that the behavior of total nondurables masks surprising heterogeneity in the lifecycle profile of individual…

UM08-07: Early Social Security Claiming and Cognitive Resources

Traditional economic models assume that individuals have full information and act perfectly rationally. However, we show that there is considerable variation in financial literacy in the population and propose modeling the acquisition of financial knowledge in a human capital production…

UM08-08: Individuals’ Uncertainty about Their Future Social Security Benefits

The Social Security trust fund is predicted to be depleted by 2041.  While there are several viable reform proposals to restore long-term solvency of the Social Security system, one important element that is critical to the success of any reform…

UM08-09: Early Retirement, Labor Supply, and Benefit Withholding

The labor supply and benefit claiming incentives provided by the early retirement rules of the Social Security Old Age benefits program are of growing importance as the Normal Retirement Age (NRA) increases to 67, the labor force participation of Older…

UM08-10: Marital Histories and Economic Well-Being

Compared to unmarried individuals married individuals report greater average wealth. A restricted focus on current marital status risks misrepresenting the effects of marriage on wealth, as an increasing proportion of older adults have been divorced and remarried, having lived through…