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Do Census Data Understate Retirement Income?

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  • Alicia H. Munnell
  • Anqi Chen

Abstract

The brief’s key findings are: *Some claim that retirees are better off than many think, because Census’s Current Population Survey (CPS) does not capture most 401(k)/IRA income.*Indeed, the CPS dramatically under-reports 401(k)/IRA income, a serious problem given the shift from defined benefit to defined contribution plans. *Interestingly, though, the problem is largely concentrated among upper-income households, which hold most of the 401(k)/IRA wealth. *As a result, the CPS currently provides a reasonably good measure of retirement income for the typical middle-income household. *Moreover, Census is currently testing ways to improve the CPS survey design to better incorporate all sources of retirement income.

Suggested Citation

  • Alicia H. Munnell & Anqi Chen, 2014. "Do Census Data Understate Retirement Income?," Issues in Brief ib2014-19, Center for Retirement Research.
    • Handle: RePEc:crr:issbrf:ib2014-19
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    File URL: http://crr.bc.edu/briefs/do-census-data-understate-retirement-income/
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    Cited by:

    1. Congressional Budget Office, 2017. "Measuring the Adequacy of Retirement Income: A Primer," Reports 53191, Congressional Budget Office.

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