Debt of the Elderly and Near Elderly, 1992-2001

The most widely used statistics for predicting retirement income security are those concerned with retirees' accumulated financial assets, particularly within tax-qualified retirement plans (e.g., 401(k) plans and individual retirement accounts (IRAs)), and coverage by supplemental health insurance to Medicare provided through a former employer. However, any debt that an elderly family has going into retirement will offset its asset accumulations, resulting in a lower level of retirement income security. This paper examines the level of debt held by American families with an elderly or near elderly (age 55 or older) family head