While the short-run financial status of Social Security is secure, its long-run financial status is very uncertain. The retirement and disability part of the system (OASDI) is projected to be in long-run actuarial deficit under the Social Security Administration's intermediate economic and...

This paper compares the well-being of the Retirement History Survey of the elderly with their own previous levels of income and economic welfare. Traditional replacement rates are calculated, although a number of shortcomings of such measures are discussed. Modifications are made by examining...

One of the most striking features of the postwar U.S. economy has been the rapid decrease in the labor force participation of the elderly at a time when the health of this group has been improving. In spite of this, previous research, based on retrospective interviews with the retired...