2011

Effects of Legal and Unauthorized Immigration on the U.S. Social Security System

Immigration is having an increasingly important effect on the social insurance system in the United States. On the one hand, eligible legal immigrants have the right to eventually receive pension benefits, but also rely on other aspects of the social…

Do Stronger Age Discrimination Laws Make Social Security Reforms More Effective?

The Effects of Changes in Women’s Labor Market Attachment on Redistribution under the Social Security Benefit Formula

Studies conducted in the early 1990s analyzed whether the progressive Social Security benefit formula succeeds in redistributing benefits from high to low earners. These studies suggested that while the benefit formula fostered significant redistribution from individuals with high earnings to…

2010

Personality, Lifetime Earnings, and Retirement Wealth

Reconciling Findings on the Employment Effect of Disability Insurance

Over the last 25 years the Social Security Disability Insurance Program (DI) has grown dramatically. During the same period of time employment rates for men with work limitations showed substantial declines in both absolute and relative terms. While the timing…

The Labor Supply Effects of Disability Insurance Work Disincentives: Evidence from the Automatic Conversion to Retirement Benefits at Full Retirement Age

The Social Security Disability Insurance (DI) program imposes strong work restrictions on beneficiaries; however, the causal effect of the work disincentives on labor supply has been difficult to estimate. We take a new look at this question by exploiting the…

2009

How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness

This paper reports on several self-assessed and objective measures of financial literacy newly added to the American Life Panel (ALP), and it links these performance measures to efforts consumers make to plan for retirement. We evaluate the causal relationship between…

Social Security Literacy and Retirement Well-Being

We build upon the growing literature on financial literacy, which studies the prevalence of lack of knowledge about various financial issues, and propose to analyze how much people know about the Social Security rules using both a small pilot survey…

Work Disability, Work, and Justification Bias in Europe and the U.S.

To analyze the effect of health on work, many studies use a simple self-assessed health measure based upon a question such as “do you have an impairment or health problem limiting the kind or amount of work you can do?”…

How Do Pension Changes Affect Retirement Preparedness? The Trend to Defined Contribution Plans and the Vulnerability of the Retirement Age Population to the Stock Market Decline of 2008-2009

This document has two parts. The first part presents background information on trends in pensions drawn from our forthcoming book, Pensions in the Health and Retirement Study. Using data from the Health and Retirement Study (HRS), trends in pensions are…