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...

Although annuities would ensure higher levels of lifetime income, reduce the likelihood that people will outlive their resources, and alleviate some of the anxiety associated with post-retirement investing, the market for annuity products is minuscule. Explanations for the low demand include the...

Over the past couple of decades Americans have been seeking to work to older ages. However, working to older ages requires more than a willingness on the part of workers; it requires employers to hire them on terms that are worthwhile. This paper addresses the question of what jobs employers...

Many older Americans need to work longer in order to achieve a secure retirement. The question is whether employers will hire and retain them. This paper reports on a 2019 survey of employer perceptions of the productivity, costs, and net value of their older workers relative to their younger...

Medicare Part D was established to expand outpatient prescription drug coverage to all seniors. An obvious effect of Part D was to improve the well-being of those who gained coverage by reducing their exposure to drug costs. But, the law also boosted demand for drugs used by those ages 65 and...

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,...