Annuities could benefit retirees, but these products can also be costly. Yet, despite significant changes in factors that can affect annuity pricing and value, the money’s worth of individual annuities in the United States has not been addressed in the research literature in 25 years. This...

Over the past few decades, U.S. income inequality has grown, with high earners experiencing disproportionate growth. This pattern has increased the top earners' share of national income and reduced the share of earnings taxable by Social Security from 87.1 percent to 82.7 percent since 1994,...

As retirees live longer, spend more on medical care, and get less income replaced by Social Security, many may need to tap their home equity to be comfortable in retirement. The most direct way to access home equity is downsizing, but few choose this option because they generally prefer to stay...

Over the past two decades, the share of individuals claiming Social Security at the Early Eligibility Age has dropped and the average retirement age has increased. At the same time, Social Security rules have changed substantially, employer-sponsored retirement plans have shifted from defined...

Social Security's Trust Fund is projected to run out in 2034. As policymakers consider restoring financial balance to the program, one topic that may be discussed is how to structure any tax increases. Understanding why Social Security requires a higher payroll tax than a funded retirement...

Some observers believe that investing a portion of the Social Security Trust Fund in equities would strengthen its finances and improve the program's intergenerational risk-sharing. However, equity investments would also expose the program to greater financial risk and potentially greater...

Using data from the 1992, 1998, 2004, and 2010 waves of the Health and Retirement Study (HRS), this paper compares pension participation, pension wealth, projected retirement income, and replacement rates attributable to past service, by pension type for households ages 51-56. The analysis...