Assessing the Impact of Severe Economic Recession on the Elderly: Summary of a Workshop by National Research Council of the National Academies

Author:National Research Council of the National Academies
Language: eng
Format: epub
Tags: Behavioral and Social Sciences : Aging. Health and Medicine
Publisher: NATIONAL ACADEMIES PRESS
Published: 2011-05-16T00:00:00+00:00

Current Retirees

Nearing Retirement

Prime-Age Workers

Social Security

Presumably little impact.

Lower monthly payments for older displaced workers who claim early benefits.

Although earnings may be lower in the Social Security formula, there is likely to be only a small long-term impact due to the nature of the benefits formula (which is progressive and based on average indexed earnings). Impact of employer underfunding of plans and employer decisions about maintaining these plans going forward.

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