Policymakers have designed Social Security to be a progressive retirement program that replaces a larger share of monthly earnings for low- and middle-income workers than for high earners. However, previous research has found that, although the Disability Insurance (DI) component of Social...

Social Security Disability Insurance (SSDI) applicatons and benefit receipts vary greatly by state, which has led to concerns about potential inconsistencies in the way that states apply disability standards. An earlier brief concluded that more than 70 percent of the variation across states in...

Social Security Disability Insurance (SSDI) applica­tions and benefit receipts vary greatly by state, which has led to concerns about potential inconsistencies in the way that states apply disability standards. This possibility has prompted numerous Congressional hearings and reports, and led...

Eligibility for Medicare at age 65 is widely viewed as an important factor in retirement decisions. However, it has been difficult to quantify the influence of Medicare because eligibility for Medicare came at the same age as Social Security’s Full Retirement Age (FRA). The recent rise in the...

Between 2007 and 2009, the percent of 62 year olds claiming Social Security benefits reversed a decadelong decline and increased sharply before reverting back to trend. This phenomenon raises two questions: 1) who was induced to claim early?; and 2) how much monthly retirement income have they...

When job opportunities decline due to a weak economy, application rates for Social Security Disability Insurance (DI) typically rise. At the same time, prior research has found that allowance rates – the percent of applicants who are awarded benefits – tend to fall, perhaps because more of...

The stock market crash eliminated more than $2 tril­lion in wealth held in defined contribution retirement accounts, about one-third of the pre-crash total. Un­less offset by a later retirement age and/or increased retirement saving, this wealth shock will significantly reduce the retirement...

Many workers nearing retirement experienced a dra­matic decrease in their retirement assets due to the stock market downturn. In order to maintain their expected standard of living in retirement, workers will need to work longer, save more, or do both. To mea­sure the response of older workers...

With the virtual disappearance of traditional pensions, declining Social Security replacement rates, and longer life spans, the retirement landscape is shifting dramatically. Today, responsibility for a comfortable retirement rests mostly on the individual. This change has led to widespread...

Many workers nearing retirement experienced a dramatic decrease in their retirement assets when the stock market crashed in 2008. In order to maintain their expected standard of living in retirement, workers needed to work longer, save more, or do both. To measure the response of older workers...